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Real estate market-based optimization algorithm (remark): a market-inspired metaheuristic optimization algorithm based on the law of supply and demand

Nobahari, H ; Sharif University of Technology | 2022

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  1. Type of Document: Article
  2. DOI: 10.1007/s12652-022-04332-8
  3. Publisher: Springer Science and Business Media Deutschland GmbH , 2022
  4. Abstract:
  5. In this work, a metaheuristic optimization algorithm is developed based on the idea of interaction between the demanders and the suppliers in the real estate market. After reviewing the basic theory behind the idea, the working principles of the algorithm are developed and explained in details. The proposed framework yields the exploration and exploitation ability of the algorithm and also leads the algorithm to converge to the global maxima. In order to test the performance of the algorithm, 23 well-known benchmark functions of different characteristics are selected from the literature and the results are compared with seven metaheuristic algorithms. The algorithm is also evaluated on two engineering design problems. Results show the comparable performance of the REMARK and verify its potential to solve the optimization problems. © 2022, The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature
  6. Keywords:
  7. Metaheuristic ; Optimization ; Benchmarking ; Commerce ; Global optimization ; Basic theory ; Demand ; Human-based ; Metaheuristic optimization ; Optimisations ; Optimization algorithms ; Performance ; Real estate market ; Supply ; Game theory
  8. Source: Journal of Ambient Intelligence and Humanized Computing ; 2022 ; 18685137 (ISSN)
  9. URL: https://link.springer.com/article/10.1007/s12652-022-04332-8