We analyse a model in which a government uses a second-best policy to affect the reallocation of labour, following a change in relative prices. We consider two extreme cases, in which the government has either unlimited or negligible ability to commit to future actions. We explain why the...

Digital (or mixed mode) circuit implementations of neural networks bring one major modification to their ideal, defectless models: quantization of the weights dynamics. Would this modification completely perturb the behavior of the network, it will never be possible to implement it on a digital...

This paper addresses the problem of optimizing a function over a finite or countably infinite set of alternatives, in situations where this objective function cannot be evaluated exactly, but has to be estimated or measured. A special focus is on situations where simulation is used to evaluate...