A survey on financial applications of metaheuristics

Modern heuristics or metaheuristics are optimization algorithms that have been increasingly used during the last decades to support complex decision-making in a number of fields, such as logistics and transportation, telecommunication networks, bioinformatics, finance, and the like. The continuous increase in computing power, together with advancements in metaheuristics frameworks and parallelization strategies, are empowering these types of algorithms as one of the best alternatives to solve rich and real-life combinatorial optimization problems that arise in a number of financial and banking activities. This article reviews some of the works related to the use of metaheuristics in solving both classical and emergent problems in the finance arena. A non-exhaustive list of examples includes rich portfolio optimization, index tracking, enhanced indexation, credit risk, stock investments, financial project scheduling, option pricing, feature selection, bankruptcy and financial distress prediction, and credit risk assessment. This article also discusses some open opportunities for researchers in the field, and forecast the evolution of metaheuristics to include real-life uncertainty conditions into the optimization problems being considered.This work has been partially supported by the Spanish Ministry of Economy and Competitiveness (TRA2013-48180-C3-P, TRA2015-71883-REDT), FEDER, and the Universitat Jaume I mobility program (E-2015-36)

A Review on Energy Consumption Optimization Techniques in IoT Based Smart Building Environments

In recent years, due to the unnecessary wastage of electrical energy in residential buildings, the requirement of energy optimization and user comfort has gained vital importance. In the literature, various techniques have been proposed addressing the energy optimization problem. The goal of each technique was to maintain a balance between user comfort and energy requirements such that the user can achieve the desired comfort level with the minimum amount of energy consumption. Researchers have addressed the issue with the help of different optimization algorithms and variations in the parameters to reduce energy consumption. To the best of our knowledge, this problem is not solved yet due to its challenging nature. The gap in the literature is due to the advancements in the technology and drawbacks of the optimization algorithms and the introduction of different new optimization algorithms. Further, many newly proposed optimization algorithms which have produced better accuracy on the benchmark instances but have not been applied yet for the optimization of energy consumption in smart homes. In this paper, we have carried out a detailed literature review of the techniques used for the optimization of energy consumption and scheduling in smart homes. The detailed discussion has been carried out on different factors contributing towards thermal comfort, visual comfort, and air quality comfort. We have also reviewed the fog and edge computing techniques used in smart homes

A Comprehensive Survey on Particle Swarm Optimization Algorithm and Its Applications

Particle swarm optimization (PSO) is a heuristic global optimization method, proposed originally by Kennedy and Eberhart in 1995. It is now one of the most commonly used optimization techniques. This survey presented a comprehensive investigation of PSO. On one hand, we provided advances with PSO, including its modifications (including quantum-behaved PSO, bare-bones PSO, chaotic PSO, and fuzzy PSO), population topology (as fully connected, von Neumann, ring, star, random, etc.), hybridization (with genetic algorithm, simulated annealing, Tabu search, artificial immune system, ant colony algorithm, artificial bee colony, differential evolution, harmonic search, and biogeography-based optimization), extensions (to multiobjective, constrained, discrete, and binary optimization), theoretical analysis (parameter selection and tuning, and convergence analysis), and parallel implementation (in multicore, multiprocessor, GPU, and cloud computing forms). On the other hand, we offered a survey on applications of PSO to the following eight fields: electrical and electronic engineering, automation control systems, communication theory, operations research, mechanical engineering, fuel and energy, medicine, chemistry, and biology. It is hoped that this survey would be beneficial for the researchers studying PSO algorithms

Planning and Scheduling Optimization

Although planning and scheduling optimization have been explored in the literature for many years now, it still remains a hot topic in the current scientific research. The changing market trends, globalization, technical and technological progress, and sustainability considerations make it necessary to deal with new optimization challenges in modern manufacturing, engineering, and healthcare systems. This book provides an overview of the recent advances in different areas connected with operations research models and other applications of intelligent computing techniques used for planning and scheduling optimization. The wide range of theoretical and practical research findings reported in this book confirms that the planning and scheduling problem is a complex issue that is present in different industrial sectors and organizations and opens promising and dynamic perspectives of research and development

Swarm intelligence for scheduling: a review

Swarm Intelligence generally refers to a problem-solving ability that emerges from the interaction of simple information-processing units. The concept of Swarm suggests multiplicity, distribution, stochasticity, randomness, and messiness. The concept of Intelligence suggests that problem-solving approach is successful considering learning, creativity, cognition capabilities. This paper introduces some of the theoretical foundations, the biological motivation and fundamental aspects of swarm intelligence based optimization techniques such Particle Swarm Optimization (PSO), Ant Colony Optimization (ACO) and Artificial Bees Colony (ABC) algorithms for scheduling optimization

Optimización metaheurística aplicada en la gestión de pavimentos asfálticos

Pavement engineering is a crossroads between geotechnical and transportation engineering with a sound base on construction materials. There are multiple applications of optimization algorithms in pavement engineering, emphasizing pavement management for its socioeconomic implications and back-calculation of layer properties for its complexity. A detailed literature review shows that optimization has been a permanent concern in pavement engineering. However, only in the last two decades, the increase in computational power allowed the implementation of metaheuristic optimization techniques with promising results in research and practice. Pavement management requires powerful optimization tools for multi-objective problems such as minimizing costs and maximizing the pavement state from network to project level with constrained budgets. A substantial amount of research focuses on genetic algorithms (GA), but new developments include particle intelligence (PSO, ACO, and ABC). The study must go beyond small-sized networks to improve the management of existing road infrastructure (pavement, bridges) based on mechanistic and reliability criteria.La ingeniería de pavimentos es una encrucijada entre la ingeniería geotécnica y la ingeniería de transporte con una sólida base en los materiales de construcción. Existen diferentes aplicaciones de los algoritmos de optimización en la ingeniería de pavimentos, las cuales enfatizan la gestión del pavimento por sus implicaciones socioeconómicas y el cálculo inverso de las propiedades de las capas por su complejidad. Una revisión detallada de la literatura muestra que la optimización ha sido una preocupación permanente en la ingeniería de pavimentos; sin embargo, solo en las últimas dos décadas, el incremento del poder computacional permitió la implementación de técnicas de optimización metaheurísticas con resultados prometedores en la investigación y en la práctica. La gestión del pavimento requiere poderosas herramientas de optimización para problemas con objetivos múltiples, como minimizar costos y maximizar el estado del pavimento desde el nivel de la red hasta el del proyecto con presupuestos limitados. Una cantidad sustancial de investigaciones se centra en los algoritmos genéticos (AG), pero los nuevos desarrollos incluyen inteligencia de partículas (PSO, ACO y ABC). El estudio debe ir más allá de las redes de pequeño tamaño para mejorar la gestión de la infraestructura vial existente (pavimento, puentes) con base en criterios mecanicistas y de confiabilidad

Overview of Multi-Objective Optimization Approaches in Construction Project Management

The difficulties that are met in construction projects include budget issues, contractual time constraints, complying with sustainability rating systems, meeting local building codes, and achieving the desired quality level, to name but a few. Construction researchers have proposed and construction practitioners have used optimization strategies to meet various objectives over the years. They started out by optimizing one objective at a time (e.g., minimizing construction cost) while disregarding others. Because the objectives of construction projects often conflict with each other, single-objective optimization does not offer practical solutions as optimizing one objective would often adversely affect the other objectives that are not being optimized. They then experimented with multi-objective optimization. The many multi-objective optimization approaches that they used have their own advantages and drawbacks when used in some scenarios with different sets of objectives. In this chapter, a review is presented of 16 multi-objective optimization approaches used in 55 research studies performed in the construction industry and that were published in the period 2012–2016. The discussion highlights the strengths and weaknesses of these approaches when used in different scenarios

Cloud computing resource scheduling and a survey of its evolutionary approaches

A disruptive technology fundamentally transforming the way that computing services are delivered, cloud computing offers information and communication technology users a new dimension of convenience of resources, as services via the Internet. Because cloud provides a finite pool of virtualized on-demand resources, optimally scheduling them has become an essential and rewarding topic, where a trend of using Evolutionary Computation (EC) algorithms is emerging rapidly. Through analyzing the cloud computing architecture, this survey first presents taxonomy at two levels of scheduling cloud resources. It then paints a landscape of the scheduling problem and solutions. According to the taxonomy, a comprehensive survey of state-of-the-art approaches is presented systematically. Looking forward, challenges and potential future research directions are investigated and invited, including real-time scheduling, adaptive dynamic scheduling, large-scale scheduling, multiobjective scheduling, and distributed and parallel scheduling. At the dawn of Industry 4.0, cloud computing scheduling for cyber-physical integration with the presence of big data is also discussed. Research in this area is only in its infancy, but with the rapid fusion of information and data technology, more exciting and agenda-setting topics are likely to emerge on the horizon

A Dynamic Intelligent Decision Approach to Dependency Modeling of Project Tasks in Complex Engineering System Optimization

Complex engineering system optimization usually involves multiple projects or tasks. On the one hand, dependency modeling among projects or tasks highlights structures in systems and their environments which can help to understand the implications of connectivity on different aspects of system performance and also assist in designing, optimizing, and maintaining complex systems. On the other hand, multiple projects or tasks are either happening at the same time or scheduled into a sequence in order to use common resources. In this paper, we propose a dynamic intelligent decision approach to dependency modeling of project tasks in complex engineering system optimization. The approach takes this decision process as a two-stage decision-making problem. In the first stage, a task clustering approach based on modularization is proposed so as to find out a suitable decomposition scheme for a large-scale project. In the second stage, according to the decomposition result, a discrete artificial bee colony (ABC) algorithm inspired by the intelligent foraging behavior of honeybees is developed for the resource constrained multiproject scheduling problem. Finally, a certain case from an engineering design of a chemical processing system is utilized to help to understand the proposed approach

Accelerating ant colony optimization by using local search

This thesis report is submitted in partial fulfillment of the requirements for the degree of Bachelor of Science in Computer Science and Engineering, 2015.Cataloged from PDF version of thesis report.Includes bibliographical references (page 42-45).Optimization is very important fact in terms of taking decision in mathematics, statistics, computer science and real life problem solving or decision making application. Many different optimization techniques have been developed for solving such functional problem. In order to solving various problem computer Science introduce evolutionary optimization algorithm and their hybrid. In recent years, test functions are using to validate new optimization algorithms and to compare the performance with other existing algorithm. There are many Single Object Optimization algorithm proposed earlier. For example: ACO, PSO, ABC. ACO is a popular optimization technique for solving hard combination mathematical optimization problem. In this paper, we run ACO upon five benchmark function and modified the parameter of ACO in order to perform SBX crossover and polynomial mutation. The proposed algorithm SBXACO is tested upon some benchmark function under both static and dynamic to evaluate performances. We choose wide range of benchmark function and compare results with existing DE and its hybrid DEahcSPX from other literature are also presented here.Nabila TabassumMaruful HaqueB. Computer Science and Engineerin