A new algorithm for the group minimization problem (GP) is proposed. The algorithm can be broadly described as follows …-known algorithm of Glover, and checked for non-negativity. The first non-negative point is an optimal solution of (GP). Advantages and … disadvantages of the algorithm are discussed; in particular, the implementation of the algorithm (which can be easily extended so as …

) Improved Stochastic Ranking Evolution Strategy (ISRES), (iii) Multi-Level Single-Linkage (MLSL) algorithm, (iv) Stochastic … versions of TikTak, which is a multistart global optimization algorithm used in some recent economic applications. For … completeness, we add three popular local algorithms to the comparison—the Nelder-Mead downhill simplex algorithm, the Derivative …

algorithm herself, her equity preference has no effect on the training procedure. So long as the data, however biased, contain … signal, they will be used and the learning algorithm will be the same. Equity preferences alone provide no reason to alter …

financial institutions. Focusing on a multi sector economy linked through a supply network, we show how structural properties of … the supply network determine both whether aggregate volatility disappears as the number of sectors increases (i … aggregate output from its mean) to sector-specific volatility and to the structural properties of the supply network …

We develop and analyze a tractable empirical model for strategic network formation that can be estimated with data from … a single network at a single point in time. We model the network formation as a sequential process where in each period …, the characteristics of the potential partner, and on features of the current state of the network, such as whether the two …

I propose a network/search view of international trade in differentiated products. I present evidence that supports the …

assumption that the process starts with every node in the network having a signal. We study a natural extension of the DeGroot … agent. This characterization result then allows us to relate network geometry to information aggregation. We identify an … example of a network structure where essentially only the signal of a single agent is aggregated, which helps us pinpoint a …

setting with data from experiments involving members of a single connected network. The class includes null hypotheses that … have no effect. We also consider hypotheses concerning the validity of sparsification of a network (for example based on …

Should China build mega-cities or a network of linked middle-sized metropolises? Can Europe's mid-sized cities compete …

network. The two measures are highly correlated, and show a wide range of networks available to consumers. We then estimate … consumer willingness-to-pay for network breadth, which varies by age. 60-year-olds value the broadest network approximately … $1200-1400/year more than the narrowest network, while 30-year-olds value it about half as much. Consumers place additional …