Heuristics for a bidding problem

Authors:
Y. Guo;A. Lim;B. Rodrigues;Y. Zhu
Affiliations:
Department of Computer Science, National University of Singapore, Singapore, Singapore;Department of IEEM, Hong Kong University of Science Technology, Clear Water Bay, Hong Kong;School of Business, Singapore Management University, Singapore, Singapore;Department of IEEM, Hong Kong University of Science Technology, Clear Water Bay, Hong Kong
Venue:
Computers and Operations Research
Year:
2006

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Abstract

In this paper, we study a bidding problem which can be modeled as a set packing problem. A simulated annealing heuristic with three local moves, including an embedded branch-and-bound move, is developed for the problem. We compared the heuristic with the CPLEX 8.0 solver and the current best non-exact method, Casanova, using the standard CATS benchmark and other realistic test sets. Results show that the heuristic outperforms CPLEX and Casanova.