We are concerned with evolutionary algorithms that are employed for economic modeling purposes. We focus in particular on evolutionary algorithms that use a binary encoding of strategies. These algorithms, commonly referred to as genetic algorithms, are popular in agent-based computational...

Inventory policies for joint remanufacturing and manufacturing have recently received much attention. Most efforts, though, were related to (optimal) policy structures and numerical optimization, rather than closed form expressions for calculating near optimal policy parameters. The focus of...

In this paper, we discuss an approximation method based on G/G/m queuing network modeling using Whitt’s (1983) queuing network analyzer to analyze pick-and-pass order picking systems. The objective of this approximation method is to provide an instrument for obtaining rapid performance...

We propose an evolutionary approach for studying the dynamics of interaction of strategic agents that interact in a marketplace. The goal is to learn which agent strategies are most suited by observing the distribution of the agents that survive in the market over extended periods of time. We...

Duration intervals measure the dynamic impact of advertising on sales. More precise, the p per cent duration interval measures the time lag between the advertising impulse and the moment that p per cent of its effect has decayed. In this paper, we derive an expression for the duration interval...

This paper presents a method for selection of the optimal simultaneous equation system from a set of nested models under the condition of a small sample. The purpose of selection is to identify a model with the best prognostic possibilities. Multivariate AIC, BIC and AICC are used as the...