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Classification Models Via Tabu Search: An Application to Early Stage Venture Classification
- Source :
- Expert Systems with Applications, Expert Systems with Applications, Elsevier, 2014, 41 (18), pp.8085-8091. ⟨10.1016/j.eswa.2014.07.010⟩
- Publication Year :
- 2015
- Publisher :
- Elsevier BV, 2015.
-
Abstract
- We model the decision making process used by Experts at the Canadian Innovation Centre to classify early stage venture proposals based on potential commercial success. The decision is based on thirty-seven attributes that take values in { - 1 , 0 , 1 } . We adopt a conjunctive decision framework due to Astebro and Elhedhli (2005) that selects a subset of attributes and determines two threshold values: one for the maximum allowed negatives (n) and one for minimum required positives (p). A proposal is classified as a success if the number of positives is greater than or equal to p and the number of negatives is less than or equal to n over the selected attributes. Based on a data set of 561 observations, the selection of attributes and the determination of the threshold values is modeled as a large-scale mixed integer program. Two solution approaches are explored: Benders decomposition and Tabu search. The first, was very slow to converge, while the second provided high quality solutions quickly. Tabu search provides excellent classification accuracy for predicting commercial successes as well as replicating Experts’ forecasts, opening the venue for the use of Tabu search in scoring and classification problems.
- Subjects :
- JEL: C - Mathematical and Quantitative Methods/C.C5 - Econometric Modeling/C.C5.C53 - Forecasting and Prediction Methods • Simulation Methods
Mixed integer program
Computer science
media_common.quotation_subject
Benders' decomposition
Machine learning
computer.software_genre
decision heuristic
JEL: C - Mathematical and Quantitative Methods/C.C4 - Econometric and Statistical Methods: Special Topics/C.C4.C45 - Neural Networks and Related Topics
JEL: C - Mathematical and Quantitative Methods/C.C6 - Mathematical Methods • Programming Models • Mathematical and Simulation Modeling/C.C6.C63 - Computational Techniques • Simulation Modeling
Artificial Intelligence
Classification models
tabu search
Quality (business)
Decision-making
Selection (genetic algorithm)
media_common
Mathematics
business.industry
General Engineering
early stage venture forecast
large-scale mixed integer program
Tabu search
Computer Science Applications
Data set
classification
[SHS.GESTION.STRAT]Humanities and Social Sciences/Business administration/domain_shs.gestion.strat
[SHS.GESTION]Humanities and Social Sciences/Business administration
Stage (hydrology)
Data mining
Artificial intelligence
[SHS.GESTION] Humanities and Social Sciences/Business administration
business
computer
Integer (computer science)
Subjects
Details
- ISSN :
- 15565068 and 09574174
- Database :
- OpenAIRE
- Journal :
- SSRN Electronic Journal
- Accession number :
- edsair.doi.dedup.....744eff9bdce1c9ddc09bd2e191bff16e