Abstract: This paper presents a perturbation based search method
to solve the unconstrained binary quadratic programming problem.
The proposed algorithm was tested with some of the standard test
problems and the results are reported for 10 instances of 50, 100, 250,
& 500 variable problems. A comparison of the performance of the
proposed algorithm with other heuristics and optimization software is
made. Based on the results, it was found that the proposed algorithm
is computationally inexpensive and the solutions obtained match the
best known solutions for smaller sized problems. For larger instances,
the algorithm is capable of finding a solution within 0.11% of the
best known solution. Apart from being used as a stand-alone method,
this algorithm could also be incorporated with other heuristics to find
better solutions.