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What is Local Optima

Advancement in Business Analytics Tools for Higher Financial Performance
A local optima is optimal within a neighboring set of candidate solutions.
Published in Chapter:
A Discussion on Non-Convex Optimization Problems Arising in Supply Chain Design and Finance
Arka Das (Micron Technology, Inc., India)
DOI: 10.4018/978-1-6684-8386-2.ch003
Abstract
Non-convex optimization problems belong to a class of classical nonlinear optimization problems, which are often difficult to solve. An optimization problem becomes non-convex due to the presence of non-convex functions in the objective function or constraints. A function is a convex function if its Hessian matrix is positive and semi-definite for all values; otherwise, it is a non-convex function. A Hessian matrix is called positive semi-definite when the eigenvalues of the matrix are non-negative. A non-convex function can be either a concave function or a function that is neither a concave nor a convex function. A concave function is always negative semi-definite, indicating that the eigenvalues of the matrix are non-positive. This chapter starts with a short introduction to non-convex problems, followed by a discussion on different non-convex problems arising in supply chain and finance. Thereafter, the authors discuss different algorithms used for solving non-convex problems. Finally, the chapter conclude with the limitations of different algorithms.
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More Results
Optimization of Single Row Layout in Construction Site Planning: A Comparative Study of Heuristics Algorithms
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Modified Multi-Grey Wolf Pack for Vital Sign-Based Disease Identification
In optimization, the local optima are the relative best solutions within a neighbor solution set.
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