2391. A fast algorithm to find the optimal representation of the efficient set
Invited abstract in session TD-5: Multiobjective Optimization 3: Representations, stream Decision Theory and Multi-criteria Decision Making.
Thursday, 14:30-16:00Room: H7
Authors (first author is the speaker)
| 1. | Thomas Stidsen
|
| DTU-Management, Technical University of Denmark | |
| 2. | Clemens Thielen
|
| TUM Campus Straubing for Biotechnology and Sustainability, Technical University of Munich |
Abstract
Most real-world planning problems are inherently multi-objective. Over the last decade, a number of more practically useful algorithms for multi-objective optimization have been proposed and are now available as open source code in Julia/JuMP. These algorithms can be applied to discrete multi-objective problems with up to six objectives.
Despite this success, multi-objective approaches still yield computational challenges: The computation requirements can be immense since often NP-hard problems have to be solved many times. Furthermore, the complete non-dominated set, the Pareto front, can be huge. Finding all the non-dominated points is, thus, often time consuming, and afterwards a decision maker may have to evaluate a large number of non-dominated points to identify the best trade-off. This work can also be time consuming.
An alternative is to find a representation of the full set of non-dominated points, i.e., a subset of the non-dominated points that represents the non-dominated set well in some sense. In this presentation, we present a novel bi-objective optimization algorithm for computing a representation of the non-dominated set without having to first compute the full non-dominated set.
Keywords
- Multi-Objective Programming
- Combinatorial Optimization
- Integer Programming
Status: accepted
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