{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,5,4]],"date-time":"2026-05-04T03:33:03Z","timestamp":1777865583104,"version":"3.51.4"},"reference-count":20,"publisher":"Elsevier BV","license":[{"start":{"date-parts":[[2026,10,1]],"date-time":"2026-10-01T00:00:00Z","timestamp":1790812800000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.elsevier.com\/tdm\/userlicense\/1.0\/"},{"start":{"date-parts":[[2026,10,1]],"date-time":"2026-10-01T00:00:00Z","timestamp":1790812800000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.elsevier.com\/legal\/tdmrep-license"},{"start":{"date-parts":[[2026,2,26]],"date-time":"2026-02-26T00:00:00Z","timestamp":1772064000000},"content-version":"vor","delay-in-days":0,"URL":"http:\/\/creativecommons.org\/licenses\/by\/4.0\/"}],"funder":[{"DOI":"10.13039\/100005156","name":"Alexander von Humboldt Foundation","doi-asserted-by":"publisher","id":[{"id":"10.13039\/100005156","id-type":"DOI","asserted-by":"publisher"}]},{"DOI":"10.13039\/501100003725","name":"National Research Foundation of Korea","doi-asserted-by":"publisher","id":[{"id":"10.13039\/501100003725","id-type":"DOI","asserted-by":"publisher"}]}],"content-domain":{"domain":["elsevier.com","sciencedirect.com"],"crossmark-restriction":true},"short-container-title":["Journal of Computational and Applied Mathematics"],"published-print":{"date-parts":[[2026,10]]},"DOI":"10.1016\/j.cam.2026.117535","type":"journal-article","created":{"date-parts":[[2026,2,27]],"date-time":"2026-02-27T15:53:07Z","timestamp":1772207587000},"page":"117535","update-policy":"https:\/\/doi.org\/10.1016\/elsevier_cm_policy","source":"Crossref","is-referenced-by-count":0,"special_numbering":"C","title":["CBO algorithm with average drift and applications to portfolio optimization"],"prefix":"10.1016","volume":"485","author":[{"ORCID":"https:\/\/orcid.org\/0000-0002-0107-8593","authenticated-orcid":false,"given":"Hyeong-Ohk","family":"Bae","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-6403-5590","authenticated-orcid":false,"given":"Seung-Yeal","family":"Ha","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"ORCID":"https:\/\/orcid.org\/0000-0001-8792-5214","authenticated-orcid":false,"given":"Chanho","family":"Min","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"ORCID":"https:\/\/orcid.org\/0000-0003-0399-4859","authenticated-orcid":false,"given":"Jane","family":"Yoo","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"ORCID":"https:\/\/orcid.org\/0000-0003-2173-5498","authenticated-orcid":false,"given":"Jaeyoung","family":"Yoon","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"78","reference":[{"key":"10.1016\/j.cam.2026.117535_bib0001","doi-asserted-by":"crossref","first-page":"183","DOI":"10.1142\/S0218202517400061","article-title":"A consensus-based model for global optimization and its mean-field limit","volume":"27","author":"Pinnau","year":"2017","journal-title":"Math. Models Methods Appl. Sci."},{"key":"10.1016\/j.cam.2026.117535_bib0002","series-title":"Convex Analysis and Optimization","author":"Bertsekas","year":"2003"},{"key":"10.1016\/j.cam.2026.117535_bib0003","article-title":"A consensus-based global optimization method for high dimensional machine learning problems","volume":"27","author":"Carrillo","year":"2021","journal-title":"ESAIM: COCV"},{"key":"10.1016\/j.cam.2026.117535_bib0004","doi-asserted-by":"crossref","DOI":"10.1002\/pamm.201800291","article-title":"A numerical comparison of consensus-based global optimization to other particle-based global optimization scheme","volume":"18","author":"Totzeck","year":"2018","journal-title":"Proc. Appl. Math. Mech."},{"key":"10.1016\/j.cam.2026.117535_bib0005","doi-asserted-by":"crossref","first-page":"10","DOI":"10.1016\/j.amc.2021.126726","article-title":"A constrained consensus based optimization algorithm and its application to finance","volume":"416","author":"Bae","year":"2022","journal-title":"App. Math. Comp."},{"key":"10.1016\/j.cam.2026.117535_bib0006","doi-asserted-by":"crossref","first-page":"1037","DOI":"10.1142\/S0218202518500276","article-title":"An analytical framework for consensus-based global optimization method","volume":"28","author":"Carrillo","year":"2018","journal-title":"Math. Models Methods Appl. Sci."},{"key":"10.1016\/j.cam.2026.117535_bib0007","series-title":"Consensus-based optimization methods converge globally","author":"Fornasier","year":"2024"},{"key":"10.1016\/j.cam.2026.117535_bib0008","doi-asserted-by":"crossref","first-page":"2417","DOI":"10.1142\/S0218202520500463","article-title":"Convergence of a first-order consensus-based global optimization algorithm","volume":"30","author":"Ha","year":"2020","journal-title":"Math. Models Meth. Appl. Sci."},{"key":"10.1016\/j.cam.2026.117535_bib0009","doi-asserted-by":"crossref","first-page":"255","DOI":"10.1007\/s00211-021-01174-y","article-title":"Convergence and error estimates for time-discrete consensus-based optimization algorithms","volume":"147","author":"Ha","year":"2021","journal-title":"Numerische Mathematik"},{"key":"10.1016\/j.cam.2026.117535_bib0010","first-page":"77","article-title":"Portfolio selection","volume":"7","author":"Markowitz","year":"1952","journal-title":"J. Finance"},{"key":"10.1016\/j.cam.2026.117535_bib0011","doi-asserted-by":"crossref","first-page":"671","DOI":"10.1126\/science.220.4598.671","article-title":"Optimization by simulated annealing","volume":"220","author":"Kirkpatrick","year":"1983","journal-title":"Science"},{"key":"10.1016\/j.cam.2026.117535_bib0012","doi-asserted-by":"crossref","first-page":"11","DOI":"10.1186\/2194-3206-1-11","article-title":"Large-scale global optimization through consensus of opinions over complex networks","volume":"1","author":"Askari-Sichani","year":"2013","journal-title":"Complex Adapt. Syst. Model"},{"key":"10.1016\/j.cam.2026.117535_bib0013","doi-asserted-by":"crossref","first-page":"1296","DOI":"10.4208\/cicp.OA-2021-0144","article-title":"A consensus-based global optimization method with adaptive momentum estimation","volume":"31","author":"Chen","year":"2022","journal-title":"Comm. Comp. Phys."},{"key":"10.1016\/j.cam.2026.117535_bib0014","series-title":"A course on large deviations with an introduction to Gibbs measures","volume":"162","author":"Rassoul-Agha","year":"2015"},{"key":"10.1016\/j.cam.2026.117535_bib0015","series-title":"Adam: a method for stochastic optimization","author":"Kingma","year":"2015"},{"key":"10.1016\/j.cam.2026.117535_bib0016","first-page":"1","article-title":"Online portfolio selection: a survey","volume":"46","author":"Li","year":"2014","journal-title":"ACM Comp. Surv."},{"key":"10.1016\/j.cam.2026.117535_bib0017","series-title":"\u00c3: projection onto the probability simplex: an efficient algorithm with a simple proof and an application","author":"Wang","year":"2013"},{"key":"10.1016\/j.cam.2026.117535_bib0018","unstructured":"S. Ito, D. Hatano, H. Sumita, A. Yabe, T. Fukunaga, N. Kakimura, K.-I. Kawarabayashi, Regert bounds for online portfolio selection with a cardinality constraint, NeurIPS, 2018."},{"issue":"5","key":"10.1016\/j.cam.2026.117535_bib0019","doi-asserted-by":"crossref","first-page":"1915","DOI":"10.1093\/rfs\/hhm075","article-title":"Optimal versus naive diversification: how inefficient is the 1\/N portfolio strategy?","volume":"22","author":"Demiguel","year":"2009","journal-title":"The R. of Fin. Stud."},{"issue":"2","key":"10.1016\/j.cam.2026.117535_bib0020","doi-asserted-by":"crossref","first-page":"288","DOI":"10.1111\/mafi.12006","article-title":"An online portfolio selection algorithm with regret logarithmic in price variation","volume":"25","author":"Hazan","year":"2015","journal-title":"Math. Fin."}],"container-title":["Journal of Computational and Applied Mathematics"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/api.elsevier.com\/content\/article\/PII:S0377042726001950?httpAccept=text\/xml","content-type":"text\/xml","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/api.elsevier.com\/content\/article\/PII:S0377042726001950?httpAccept=text\/plain","content-type":"text\/plain","content-version":"vor","intended-application":"text-mining"}],"deposited":{"date-parts":[[2026,4,30]],"date-time":"2026-04-30T06:55:43Z","timestamp":1777532143000},"score":1,"resource":{"primary":{"URL":"https:\/\/linkinghub.elsevier.com\/retrieve\/pii\/S0377042726001950"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2026,10]]},"references-count":20,"alternative-id":["S0377042726001950"],"URL":"https:\/\/doi.org\/10.1016\/j.cam.2026.117535","relation":{},"ISSN":["0377-0427"],"issn-type":[{"value":"0377-0427","type":"print"}],"subject":[],"published":{"date-parts":[[2026,10]]},"assertion":[{"value":"Elsevier","name":"publisher","label":"This article is maintained by"},{"value":"CBO algorithm with average drift and applications to portfolio optimization","name":"articletitle","label":"Article Title"},{"value":"Journal of Computational and Applied Mathematics","name":"journaltitle","label":"Journal Title"},{"value":"https:\/\/doi.org\/10.1016\/j.cam.2026.117535","name":"articlelink","label":"CrossRef DOI link to publisher maintained version"},{"value":"article","name":"content_type","label":"Content Type"},{"value":"\u00a9 2026 The Author(s). Published by Elsevier B.V.","name":"copyright","label":"Copyright"}],"article-number":"117535"}}