In this study, the response surface methodology (RSM) with a central composite design (CCD) was applied to evaluate the effect of temperature, initial pH and cheese whey powder concentration (CWP) on the hydrogen yield and hydrogen production rate by the Enterobacter asburiae. Batch...

In order to verify the effects of machine learning in a market structure, an evolutionary model containing firms that use a genetic algorithm to decide their investment in innovative R&D was developed. These firms share the market, with two other types of firms, those with a fixed rate of...

Real‐world problems are becoming highly complex and therefore have to be solved with combinatorial optimization (CO) techniques. Motivated by the strong increase in publications on CO, 8393 articles from this research field are subjected to a bibliometric analysis. The corpus of literature is...

We study the problem to simultaneously decide on the structures and the schedules for an entire portfolio of flexible projects. The projects are flexible as alternative technologies and procedures can be used to achieve the respective project task. The choice between different technologies and...

This article tries to connect two separate strands of literature concerning genetic algorithms. On the one hand, extensive research took place in mathematics and closely related sciences in order to find out more about the properties of genetic algorithms as stochastic processes. On the other...

This paper tries to connect the theory of genetic algorithm (GA) learning to evolutionary game theory. It is shown that economic learning via genetic algorithms can be described as a specific form of evolutionary game. It will be pointed out that GA learning results in a series of near Nash...

Models with heterogeneous interacting agents explain macro phenomena through interactions at the micro level. We propose genetic algorithms as a model for individual expectations to explain aggregate market phenomena. The model explains all stylized facts observed in aggregate price fluctuations...

Innovations, be they radical new products or technology improvements are widely recognized as a key factor of economic growth. To identify the factors triggering innovative activities is a main concern for economic theory and empirical analysis. As the number of hypotheses is large, the process...

Several approaches for subset recovery and improved forecasting accuracy have been proposed and studied. One way is to apply a regularization strategy and solve the model selection task as a continuous optimization problem. One of the most popular approaches in this research field is given by...

We develop a hybrid algorithm using Genetic Algorithms (GA) and Simulated Annealing (SA) to solve multi-objective step function maximization problems. We then apply the algorithm to a specific economic problem which is taken out of the corporate governance literature.