Set-based particle swarm optimization applied to the multidimensional knapsack problem

Particle swarm optimization algorithms have been successfully applied to discrete/valued optimization problems. However, in many cases the algorithms have been tailored specifically for the problem at hand. This paper proposes a generic set-based particle swarm optimization algorithm for use in discrete-valued optimization problems that can be formulated as set-based problems. A detailed sensitivity analysis of the parameters of the algorithm is conducted. The performance of the proposed algorithm is then compared against three other discrete particle swarm optimization algorithms from literature using the multidimensional knapsack problem and is shown to statistically outperform the existing algorithms.