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Solving optimization problems becomes a central theme not only on operational research but also on several research areas like robotic, medicine, economic etc. The number of support decision problems that can be formalized as an optimization problem is growing rapidly. This study represents a...
Persistent link: https://www.econbiz.de/10014040437
Policy makers constantly face optimal control problems: what controls allow to achieve certain targets in, e.g., GDP growth or inflation? Conventionally this is done by applying certain linear-quadratic optimization algorithms to dynamic econometric models. Several algorithms extend this...
Persistent link: https://www.econbiz.de/10010252386
-to-perform approximation algorithm that solves the problem optimally when k=1. A modification of the algorithm provides an optimal solution for … k=2. For k≥3, the algorithm approximates the optimal solution within an absolute worst-case error bound of k−1 …. Surprisingly, this error bound is independent of the number of jobs to be processed. Also and importantly, the proposed algorithm …
Persistent link: https://www.econbiz.de/10012838656
validity of this method called Search and Rescue Optimization Algorithm (AKOA), the technique applied to find the global …
Persistent link: https://www.econbiz.de/10013216281
Combinatorial optimization problems are usually NP-hard and the solution space of them is very large. Therefore the set of feasible solutions cannot be evaluated one by one. Artificial Bee Colony (ABC), Particle Swarm Optimization (PSO) and Genetic Algorithms (GA) are metaheuristic techniques...
Persistent link: https://www.econbiz.de/10013060468
Mixed-motive noncooperative games feature ambivalence in the competitive relation of the players and outcomes disobliging Nash equilibrium prescription. The Nash approach, ostensibly rational and self-maximizing, regularly advises strategy many players regard as counterintuitive or faulty. And...
Persistent link: https://www.econbiz.de/10012848925
The ultimatum heuristic is a decision-making tendency discernible in graphical plots of mixed-motive noncooperative games. As such, it can serve also as a solution approach, backsolving, predicting and explaining outcomes better than the mainstay Nash equilibrium concept whenever data for the...
Persistent link: https://www.econbiz.de/10014079449
I study the path properties of adaptive heuristics that mimic the natural dynamics of play in a game and converge to the set of correlated equilibria. Despite their apparent differences, I show that these heuristics have an abstract representation as a sequence of probability distributions that...
Persistent link: https://www.econbiz.de/10012015733
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