In this paper we discuss the necessity of models including complex adaptive systems in order to eliminate the shortcomings of neoclassical models based on equilibrium theory. A simulation model containing artificial adaptive agents is used to explore the dynamics of a market of highly...

In this paper, we study whether simple heuristics can arise as equilibrium strategies in mutual sequential mate search. To this aim, we extend the mate search model of Todd and Miller (1999), involving an adolescence (learning) phase followed by an actual mating phase, to a strategic game where...

In this paper we test a particular variant of the (Repulsive) Particle Swarm method on some rather difficult global optimization problems. A number of these problems are collected from the extant literature and a few of them are newly introduced. First, we introduce the Particle Swarm method of...

In this paper we present, propose and examine additional membership functions as also we propose least squares with genetic algorithms optimization in order to find the optimum fuzzy membership functions parameters. More specifically, we present the tangent hyperbolic, Gaussian and Generalized...

Managing the information flow within a big organization is a challenging task. Moreover, in a distributed decision-making process conflicting objectives occur. In this paper, artificial adaptive agents are used to analyze this problem. The decision makers are implemented as Classifier Systems,...

According to Alfred Korzybski (1921) humans unlike plants and animals have the property to bind time, i.e. they are able to transfer experience through time. Humans are capable to collenct knowledge from the past and communicate their knowledge to the future. This paper investigates the...

This paper studies equilibria of second price auctions in independent private value envi- ronments with different participation costs. Two types of equilibria are identified: monotonic equilibria in which a bidder with a lower participation cost results in a lower cutoff for sub- mitting a bid,...

This paper provides a price equilibrium existence theorem in economies where commodities may be indivisible and aggregate excess demand functions may be discontinuous. We introduce a very weak notion of continuity, called recursive transfer lower semi-continuity, which is weaker than transfer...

This paper studies equilibria of second price auctions when values and participation costs are both privation information and are drawn from general distribution functions. We consider the existence and uniqueness of equilibrium. It is shown that there always exists an equilibrium for this...

In this paper, we consider two-sided, many-to-one matching problems where agents in one side of the market (schools) impose some distributional constraints (e.g., a maximum quota for a set of schools), and develop a strategyproof mechanism that can handle a very general class of distributional...