The flower pollination algorithm (FPA) is a nature-inspired optimization algorithm that mimics the pollination behaviour of flowering plants. Despite the promising performance of FPA in solving single objective optimization problems, its convergence still poses challenges in practice. This study...

The Finite Element Method is a well-studied and well-understood method of solving partial differential equations. It's applicability to financial models formulated as PDEs is demonstrated. It's advantage concerning the computation of accurate "Greeks" is delineated. This is demonstrated with...

We present a global sensitivity analysis that quantifies the impact of parameter uncertainty on model outcomes. Specifically, we propose variance‐decomposition‐based Sobol' indices to establish an importance ranking of parameters and univariate effects to determine the direction of their...

Model-identification and parameter extraction of the proton exchange membrane fuel cell (PEMFC) is a well-defined procedure for improving the PEMFC efficiency for designing and control purposes. This paper presents a new version of the improved fluid search optimization algorithm for optimal...

The chaos of flow turbulence causes most quantity-of-interests J to become significantly non-convex over time, so that gradients of J soon fail to guide numerical simulations toward a useful local optimum. This challenge is investigated, and a multi-step penalty method is introduced to...

We study the dynamics of simple congestion games with two resources where a continuum of agents behaves according to a simplified version of Experience-Weighted Attraction algorithm. The dynamics is characterized by the intensity of choice capturing rationality of the total population of agents...

In this paper, we study the global dynamics of a complementarity game with effort cost externalities. Following Matsuyama (2002), we assume that identical players are simultanously engaged in two identical games, where the players' efforts chosen in each of the games exhibit a strategic...

We move from a triopoly game with heterogeneous players (E.M.Elabassy et al., 2009. Analysis of nonlinear triopoly game with heterogeneous players. Computers and Mathematics with Applications 57, 488-499). We remove the nonlinearity from the cost function and introduce it in the demand function....

This special issue of Business Systems Research (SI of the BSR) is being co-published by the Slovenian Society INFORMATIKA - Section for Operational Research (SSI -SOR). It focuses on recent advances in Operations Research and Management Science (OR / MS), with a particular emphasis on linking...