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A Niched Pareto Genetic Algorithm for Multiobjective Optimization

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Abstract

Many, if not most, optimization problems have multiple objectives. Historically, multiple objectives have been combined ad hoc to form a scalar objective function, usually through a linear combination (weighted sum) of the multiple attributes, or by turning objectives into constraints. The genetic algorithm (GA), however, is readily modified to deal with multiple objectives by incorporating the concept of Pareto domination in its selection operator, and applying a niching pressure to spread its population out along the Pareto optimal tradeoff surface. We introduce the Niched Pareto GA as an algorithm for finding the Pareto optimal set. We demonstrate its ability to find and maintain a diverse "Pareto optimal population " on two artificial problems and an open problem in hydrosystems. I. Introduction Genetic algorithms (GAs) have been applied almost exclusively to single-attribute 1 problems. But a careful look at many real-world GA applications reveals that the objective functions...

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... The most used is the weighted-sum method, which combines the multiple objectives of the PO problem into a single one, assigning weights to prioritize among them [6]. A second approach are Pareto-based models, which use the concept of Pareto optimality [11] to individually evaluate and rank the conflicting objectives and identify the dominant set of portfolios. ...
Chapter
Portfolio selection, the process of selecting the optimal combination of securities to achieve investors objectives, is a leading problem in finance. Ever since its inception, the problem has been widely addressed theoretically but its practical applications in portfolio management have seen few changes, with new technologies like Artificial Intelligence (AI) having limited impact in practice. The present study addresses this gap by identifying six main areas of the portfolio selection process and analyzing literature trends and gaps in AI methods within these areas. Additionally, it proposes four primary research avenues where AI can enhance portfolio selection in both theory and practice: i) utilizing alternative datasets and big-data analysis, ii) implementing robust predictive portfolio optimization techniques, iii) applying Reinforcement Learning (RL) methods for dynamic portfolio optimization, and iv) leveraging AI to make portfolio optimization more applicable in real-world scenarios.
... In subsequent years, multi-objective optimization algorithms were developed specifically for addressing MOOPs. Several well-known and effective techniques based on evolution algorithms have been proposed to solve MOOPs, such as Multi-Objective Genetic Algorithm (MOGA) [7], Multi-Objective Niched Pareto Genetic Algorithm (NPGA) [8], Non-dominated Sorting Genetic Algorithm (NSGA) [9], and Multi-Objective Particle Swarm Optimization (MOPSO) [10]. Due to their population-based search technique, these algorithms may get a collection of solutions in a single run and they have demonstrated improved performance in addressing MOOPs [11]. ...
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... Experts preferred the second method because it computes genetic PO solutions in parallel. The Strength Pareto Evolutionary Algorithm (SPEA), Niched Pareto Genetic Algorithm (NPGA), Multi-Objective Genetic Algorithm (MOGA), and Pareto Archived Evolutionary Strategy (PAES) [33] are a few of the MOEAs that are known to imply a Pareto ranking. Other mathematical optimization strategies include the Particle Swarm Optimization Method, Fuzzy Optimization (FO), the Tabu Search Algorithm, the Simulated Annealing Process, and the Functional Analytic Optimization Strategies. ...
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... The first MOGA, called Vector Evaluated Genetic Algorithm was proposed by [22]. Afterward, other major MOEAs were presented, such as the algorithm by [20]), the Niched Pareto Genetic Algorithm by [23], the Nondominated Sorting Genetic Algorithm by [24], the Fast Nondominated Sorting Genetic Algorithm (NSGA-II) by [10]. In this work, we exploited a multi-objective genetic algorithm obtained by specialized variations of the NSGA-II strategy. ...
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Optimal portfolio selection—composing a set of stocks/assets that provide high yields/returns with a reasonable risk—has attracted investors and researchers for a long time. As a consequence, a variety of methods and techniques have been developed, spanning from purely mathematics ones to computational intelligence ones. In this paper, we introduce a method for optimal portfolio selection based on multi-objective evolutionary algorithms, specifically Nondominated Sorting Genetic Algorithm-II (NSGA-II), which tries to maximize the yield and minimize the risk, simultaneously. The system, named EvoFolio, has been experimented on stock datasets in a three-years time-frame and varying the configurations/specifics of NSGA-II operators. EvoFolio is an interactive genetic algorithm, i.e., users can provide their own insights and suggestions to the algorithm such that it takes into account users’ preferences for some stocks. We have performed tests with optimizations occurring quarterly and monthly. The results show how EvoFolio can significantly reduce the risk of portfolios consisting only of stocks and obtain very high performance (in terms of return). Furthermore, considering the investor’s preferences has proved to be very effective in the portfolio’s composition and made it more attractive for end-users. We argue that EvoFolio can be effectively used by investors as a support tool for portfolio formation.
... This approach allows for a comprehensive consideration of the various influencing factors and the trade-offs between conflicting objectives [47]. The identification of Pareto-optimal solutions in multi-objective optimization problems can be effectively achieved through the use of several multi-objective evolutionary algorithms, including the Strength Pareto Evolutionary Algorithm (SPEA) [48], Niched Pareto Genetic Algorithm (NPGA) [49], Non-dominated Sorting Genetic Algorithm (NSGA), Pareto Archived Evolution Strategy (PAES) [50], Neighborhood Cultivation Genetic Algorithm (NCGA) [51], and Non-dominated Sorting Genetic Algorithm II (NSGA-II) [52]. The widespread use and recognition of Non-dominated Sorting Genetic Algorithm II (NSGA-II) as a solution to multi-objective optimization problems can be evidenced by its publication in the journal, IEEE Transactions on Evolutionary Computation, in 2002. ...
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Earthquakes can cause significant damage to constructed structures, leading engineers to design systems that effectively reduce damage and improve real-time vibration control. While base isolation is a commonly used passive method for seismic protection in highway structures, it has limitations such as a lack of immediate adaptation, constrained power dissipation capacity, and poor performance during earthquakes. To address the limitations of passive base isolation bearings, a hybrid control system that includes semi-active MR dampers is being introduced into isolated highway bridge structures. The aim is to enhance vibration reduction and improve overall performance. One of the major challenges in implementing this technology is developing appropriate control algorithms to handle the nonlinear behavior of semi-active devices. This paper proposes an adaptive data-driven control algorithm, informed by evolutionary game theory and a multi-objective optimization process, to optimize the distribution of voltage to semi-active MR dampers based on measurements of the damper's response to input signals. The algorithm is designed to provide optimal seismic protection. The performance of the replicator dynamics in the control system depends on three critical parameters: total population, which represents the total available resources or the sum of actuator forces; growth rate, which is the rate at which resources are distributed among control devices; and the fictitious fitness function, which regulates power consumption. Previous studies used sensitivity analysis to ascertain the best values for population size and growth rate, a time-consuming and unreliable process. This study aims to improve the performance of the system by solving a multi-objective problem. The proposed approach integrates a control algorithm with a multi-objective optimization algorithm, namely NSGA-II, to find Pareto optimal values for all parameters of the replicator dynamics. These parameters include total population, growth rate, and the fictitious function, with the aim of ensuring sustainability. By considering multiple objectives simultaneously, the proposed approach can provide a more comprehensive and effective solution for the bridge control problem. The effectiveness of this proposed approach is demonstrated through sample results Utilizing a case study centered around the Southern California Interstate 91/5 Overcrossing Highway Bridge, which is exposed to seismic activities.
... An artificial neural network [27][28][29][30] is used to construct an approximate function to describe the relationship between the objective function and the optimization parameters. The neural network is generally composed of multiple layers. ...
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As the core components of water jet propulsion system, water jet pump, directly affect the ship's propulsion performance. 3D reverse design method can effectively suppress the impeller secondary flow to get better performing hydraulic models. Aiming at fast and efficient optimization of the impellers, we parameterize the impellers and runner, and coupled with optimization algorithms and numerical calculations. It is an efficient and feasible way to coupling optimization based on multi-parameter, multi-objective and optimization algorithms, and parameterizing the impellers and guide vane geometry based on the 3D model designed by 3D reverse design method. In this paper, the waterjet propulsion pump is taken as the research object. According to the design method of the waterjet propulsion pump hydraulic model, the traditional axial flow blade design method, the modern ternary design theory of the blades, and the parametric three-dimensional reverse design method are selected to constructing an optimal design optimization strategy for the impeller of water-jet propulsion pump based on multi-parameter and multi-object genetic algorithm. Under the design conditions, the optimized pump efficiency reaches 89.28%, which is 1.24% higher than the original hydraulic model. The optimized pump head is 13.51 m, which is 0.39m more than the original hydraulic model. Under the design condition, the test measured head is 13.26m, the numerical calculation result is 1.88% higher than the test result, the test measured efficiency is 87.1%, the numerical calculation result is 2.5% higher than the test result. From the test results, the optimized impeller has higher hydraulic performance. Experiments have shown that it is feasible to optimize the design strategy.
... Due to a desire to solve the multiobjective optimization problem, multiobjective evolutionary algorithms are created, [40][41][42] which involve the Pareto front to obtain the best solution through mutual constraint. This elitist strategy that ensures a better solution is included throughout the iterative process. ...
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... In case 1, the HKSOPSO-CP algorithm is applied to obtain the common optimal values of fuel cost C and pollution emissions E. Figure 4 depicts the Pareto optimal values and also plots the optimal solutions provided by other algorithms. Taking the graphs and tables together, it is clear that HKSOPSO-CP achieves a better cost and overall a better compromise solution compared to NPGA (Horn et al., 1994), MOPSO (Hazra and Sinha, 2011), and NSGA (Qu et al., 2016). Other algorithms, namely MOEA/D (Abido, 2009), SPEA (Basu and Basu, 2011), MBFA (Hota et al., 2010), FSBF (Panigrahi et al., 2010), and NGPSO (Zou et al., 2017), also successfully implemented a costmatching and compromise solution. ...
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