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An efficient hybrid differential evolutionary algorithm for zbilevel optimisation problems
Zhejiang Univ Finance & Econ, Coll Business Adm, Hangzhou, Zhejiang, Peoples R China..
KTH.
China Agr Univ, Coll Econ & Management, Beijing, Peoples R China..
Tulane Univ, Dept Econ, Sch Liberal Arts, New Orleans, LA 70118 USA..
2019 (English)In: Ekonomska Istrazivanja, ISSN 1331-677X, E-ISSN 1848-9664, Vol. 32, no 1, p. 3016-3033Article in journal (Refereed) Published
Abstract [en]

Bilevel problems are widely used to describe the decision problems with hierarchical upper-lower-level structures in many economic fields. The bilevel optimisation problem (BLOP) is intrinsically NP-hard when its objectives and constraints are complex and the decision variables are large in scale at both levels. An efficient hybrid differential evolutionary algorithm for BLOP (HDEAB) is proposed where the optimal lower level value function mapping method, the differential evolutionary algorithm, k-nearest neighbours (KNN) and a nested local search are hybridised to improve the computational accuracy and efficiency. To show the performance of the HDEAB, numerical studies were conducted on SMD (Sinha, Maro and Deb) instances and an application example of optimising a venture capital staged-financing contract. The results demonstrate that the HDEAB outperforms the BLEAQ (bilevel evolutionary algorithm based on quadratic approximations) greatly in solving the BLOPs with different scales.

Place, publisher, year, edition, pages
ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD , 2019. Vol. 32, no 1, p. 3016-3033
Keywords [en]
Bilevel optimisation problem, differential evolutionary algorithm, KNN, nested local search
National Category
Computer Sciences Economics and Business
Identifiers
URN: urn:nbn:se:kth:diva-261347DOI: 10.1080/1331677X.2019.1656097ISI: 000486033500001OAI: oai:DiVA.org:kth-261347DiVA, id: diva2:1357884
Note

QC 20191004

Available from: 2019-10-04 Created: 2019-10-04 Last updated: 2019-10-04Bibliographically approved

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CiteExportLink to record
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Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
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