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A robust group insurance portfolio problem is taken as an instance to study the features of scenario-based robust financial problems. A simplified simulation method is applied to measure the return while an estimation model is devised to measure the risk. Applications of the NSEDA-C on the group insurance portfolio problem for real-world insurance products have validated the effectiveness of the proposed algorithm.\n<\/jats:p>","DOI":"10.1007\/s40747-021-00640-2","type":"journal-article","created":{"date-parts":[[2022,3,5]],"date-time":"2022-03-05T09:02:42Z","timestamp":1646470962000},"page":"3989-4003","update-policy":"https:\/\/doi.org\/10.1007\/springer_crossmark_policy","source":"Crossref","is-referenced-by-count":8,"title":["An estimation of distribution algorithm with clustering for scenario-based robust financial optimization"],"prefix":"10.1007","volume":"8","author":[{"given":"Wen","family":"Shi","sequence":"first","affiliation":[]},{"given":"Xiao-Min","family":"Hu","sequence":"additional","affiliation":[]},{"ORCID":"https:\/\/orcid.org\/0000-0003-0843-5802","authenticated-orcid":false,"given":"Wei-Neng","family":"Chen","sequence":"additional","affiliation":[]}],"member":"297","published-online":{"date-parts":[[2022,3,5]]},"reference":[{"key":"640_CR1","doi-asserted-by":"publisher","DOI":"10.12783\/dtcse\/mcsse2016\/10953","author":"D Patnaik","year":"2017","unstructured":"Patnaik D, Tiwari U (2017) Portfolio optimization using value-at-risk: assessment using historical simulation method for energy stocks. 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