Hybrid meta-heuristic applied to investments prioritization under budget uncertainty

This paper describes a hybrid meta-heuristics, using Simulated Annealing as the mutation operator inside a Genetic Algorithm, and its application to capital budgeting. After a brief description of the algorithm, a discussion on the best encoding for this kind of prioritization problem and the validation of this hybrid algorithm on a set of test cases, an industrial application is presented, looking at spare parts supplies for a fleet of electricity power plants.