TY - GEN
T1 - Ordinal optimization based algorithm for hotel booking limits problem
AU - Horng, Shih Cheng
AU - Yang, Feng Yi
PY - 2012
Y1 - 2012
N2 - 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.
AB - 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.
KW - hotel booking limits
KW - optimal computing budget allocation
KW - ordinal optimization
KW - particle swarm optimization
KW - stochastic simulation
UR - http://www.scopus.com/inward/record.url?scp=84864192272&partnerID=8YFLogxK
U2 - 10.1109/IS3C.2012.196
DO - 10.1109/IS3C.2012.196
M3 - Conference contribution
AN - SCOPUS:84864192272
SN - 9780769546551
T3 - Proceedings - 2012 International Symposium on Computer, Consumer and Control, IS3C 2012
SP - 759
EP - 762
BT - Proceedings - 2012 International Symposium on Computer, Consumer and Control, IS3C 2012
T2 - 2012 International Symposium on Computer, Consumer and Control, IS3C 2012
Y2 - 4 June 2012 through 6 June 2012
ER -