Title :
Ordinal Optimization Based Algorithm for Hotel Booking Limits Problem
Author :
Shih-Cheng Horng ; Feng-Yi Yang
Author_Institution :
Dept. of Comput. Sci. & Inf. Eng., Chaoyang Univ. of Technol., Taichung, Taiwan
Abstract :
In this paper, a two-stage algorithm based on ordinal optimization (OO) theory is proposed to solve the booking limits problem with huge discrete solution space. First, a crude model with a small amount of simulation replications is used as a fitness evaluation in particle swarm optimization (PSO) algorithm to select N candidate solutions from solution space. Starting from the selected N candidate solutions, we then proceed with the optimal computing budget allocation (OCBA) technique to search for a good enough solution. The vector of good enough booking limits obtained by the proposed algorithm is promising in the aspects of solution quality and computational efficiency.
Keywords :
budgeting; hotel industry; particle swarm optimisation; OCBA technique; OO theory; PSO algorithm; computational efficiency; crude model; discrete solution space; fitness evaluation; good enough booking limits; good enough solution; hotel booking limits problem; optimal computing budget allocation technique; ordinal optimization based algorithm; ordinal optimization theory; particle swarm optimization algorithm; simulation replications; solution quality; two-stage algorithm; Computational modeling; Genetic algorithms; Optimization; Particle swarm optimization; Resource management; Stochastic processes; Vectors; hotel booking limits; optimal computing budget allocation; ordinal optimization; particle swarm optimization; stochastic simulation;
Conference_Titel :
Computer, Consumer and Control (IS3C), 2012 International Symposium on
Conference_Location :
Taichung
Print_ISBN :
978-1-4673-0767-3
DOI :
10.1109/IS3C.2012.196