New Greedy-Like Heuristics for the Multidimensional 0-1 Knapsack Problem

Richard Loulou and Eleftherios Michaelides
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Richard Loulou: McGill University, Montreal, Quebec
Eleftherios Michaelides: McGill University, Montreal, Quebec

Operations Research, 1979, vol. 27, issue 6, 1101-1114

Abstract: In this paper, we develop four heuristic methods to obtain approximate solutions to the multidimensional 0-1 knapsack problem. The four methods are tested on a number of problems of various sizes. The solutions are compared to the rigorous optimum as well as to a heuristic method of Toyoda. They are statistically better than the latter, with average relative errors of the order of less than 1%.

Date: 1979
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