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Quantum Bridge Analytics II: QUBO-Plus, network optimization and combinatorial chaining for asset exchange

Author

Listed:
  • Fred Glover

    (University of Colorado)

  • Gary Kochenberger

    (University of Colorado at Denver)

  • Moses Ma

    (FutureLab Consulting)

  • Yu Du

    (University of Colorado at Denver)

Abstract

Quantum Bridge Analytics relates to methods and systems for hybrid classical-quantum computing, and is devoted to developing tools for bridging classical and quantum computing to gain the benefits of their alliance in the present and enable enhanced practical application of quantum computing in the future.This is the second of a two-part tutorial that surveys key elements of Quantum Bridge Analytics and its applications. Part I focused on the Quadratic Unconstrained Binary Optimization (QUBO) model which is presently the most widely applied optimization model in the quantum computing area, and which unifies a rich variety of combinatorial optimization problems. Part II (the present paper) introduces the domain of QUBO-Plus models that enables a larger range of problems to be handled effectively. After illustrating the scope of these QUBO-Plus models with examples, we give special attention to an important instance of these models called the Asset Exchange Problem (AEP). Solutions to the AEP enable market players to identify exchanges of assets that benefit all participants. Such exchanges are generated by a combination of two optimization technologies for this class of QUBO-Plus models, one grounded in network optimization and one based on a new metaheuristic optimization approach called combinatorial chaining. This combination opens the door to expanding the links to quantum computing applications established by QUBO models through the Quantum Bridge Analytics perspective. We show how the modeling and solution capability for the AEP instance of QUBO-Plus models provides a framework for solving a broad range of problems arising in financial, industrial, scientific, and social settings.

Suggested Citation

  • Fred Glover & Gary Kochenberger & Moses Ma & Yu Du, 2020. "Quantum Bridge Analytics II: QUBO-Plus, network optimization and combinatorial chaining for asset exchange," 4OR, Springer, vol. 18(4), pages 387-417, December.
    • Handle: RePEc:spr:aqjoor:v:18:y:2020:i:4:d:10.1007_s10288-020-00464-9
    DOI: 10.1007/s10288-020-00464-9
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    References listed on IDEAS

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    1. Guemri, Oualid & Nduwayo, Placide & Todosijević, Raca & Hanafi, Saïd & Glover, Fred, 2019. "Probabilistic Tabu Search for the Cross-Docking Assignment Problem," European Journal of Operational Research, Elsevier, vol. 277(3), pages 875-885.
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    4. Johannes C. Müller & Sebastian Pokutta & Alexander Martin & Susanne Pape & Andrea Peter & Thomas Winter, 2017. "Pricing and clearing combinatorial markets with singleton and swap orders," Mathematical Methods of Operations Research, Springer;Gesellschaft für Operations Research (GOR);Nederlands Genootschap voor Besliskunde (NGB), vol. 85(2), pages 155-177, April.
    5. Fred Glover & Gary Kochenberger & Yu Du, 2019. "Quantum Bridge Analytics I: a tutorial on formulating and using QUBO models," 4OR, Springer, vol. 17(4), pages 335-371, December.
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    8. Michele Samorani & Yang Wang & Yang Wang & Zhipeng Lv & Fred Glover, 2019. "Clustering-driven evolutionary algorithms: an application of path relinking to the quadratic unconstrained binary optimization problem," Journal of Heuristics, Springer, vol. 25(4), pages 629-642, October.
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    Cited by:

    1. Yves Crama & Michel Grabisch & Silvano Martello, 2022. "Preface," Annals of Operations Research, Springer, vol. 314(1), pages 1-3, July.
    2. Fred Glover & Gary Kochenberger & Moses Ma & Yu Du, 2022. "Quantum Bridge Analytics II: QUBO-Plus, network optimization and combinatorial chaining for asset exchange," Annals of Operations Research, Springer, vol. 314(1), pages 185-212, July.
    3. Yves Crama & Michel Grabisch & Silvano Martello, 2021. "4OR comes of age," 4OR, Springer, vol. 19(1), pages 1-13, March.

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