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Simple Explanation of the No-Free-Lunch Theorem and Its Implications

Y.C. Ho and D.L. Pepyne
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Y.C. Ho: Harvard University
D.L. Pepyne: Harvard University

Journal of Optimization Theory and Applications, 2002, vol. 115, issue 3, No 6, 549-570

Abstract: Abstract The no-free-lunch theorem of optimization (NFLT) is an impossibility theorem telling us that a general-purpose, universal optimization strategy is impossible. The only way one strategy can outperform another is if it is specialized to the structure of the specific problem under consideration. Since optimization is a central human activity, an appreciation of the NFLT and its consequences is essential. In this paper, we present a framework for conceptualizing optimization that leads to a simple but rigorous explanation of the NFLT and its implications.

Keywords: No-free-lunch theorem; optimization; learning; decision making; search; strategy selection; impossibility theorem; representation and encoding; robustness; sensitivity; complexity (search for similar items in EconPapers)
Date: 2002
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Citations: View citations in EconPapers (22)

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DOI: 10.1023/A:1021251113462

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