Recommendation system plays an important role in helping users to find appropriate products and contents they usually want. There are various recommendation techniques for recommending items to users. These recommendations can be optimized to be more accurate by means of optimization algorithms. This paper focuses on survey of such recommendation techniques and optimization algorithms in the personalized movie recommendation domain. The comparative evaluation of recommendation techniques is also done. This paper gives an insight into recommendation system, various recommendation techniques and optimization algorithms. Collaborative filtering technique along with time varying multiarmed optimization algorithm will give most appropriate recommendations.