Objective: The objective of the article is to present the concept of evolutionary algorithms and indicates the possibility of their implementation for the needs of the economy, especially the entrepreneurial economy. Research Design & Methods: This conceptual article relies on literature review...

The existing literature documents that computer simulations can reveal how characteristics of micro-level individuals give rise to macro-level phenomena of systemic wholes. This paper seeks to establish such an important simulation-based observation as a theoretical result on a sound foundation....

The aim of this presentation is to develop a composite indicator, which should be consistent and reliable, to evaluate the physiological conditions of a group of patients on dialysis therapy. The composite indicators are developed based on key performance indicators. They have the advantage of...

The main result of this paper consists in the resolution of the inverse problem for the Black-Cox (1976) model, using the method proposed by Sukhomlin (2007). Based on the backward approach, we obtain an exact expression of the implied volatility expressed as a function of quantifiable market...

Exposure to market risk is a core objective of the Capital Asset Pricing Model (CAPM) with a focus on systematic risk. However, traditional OLS Beta model estimations (Ordinary Least Squares) are plagued with several statistical issues. Moreover, the CAPM considers only one source of risk and...

In this paper we show the results achieved by integrating Six Sigma, discrete simulation techniques and multi-criteria techniques for improving a beauty service that desires to obtain the best compromise solution between incomes, costs, use of resources and customer satisfaction. DMAIC...

The current work tests, in the dress sector in the center of the country, a methodology based in the theory of uncertainty and the fuzzy subsets, in order to build laws of possibilities for the retreat of clients only with the subjective opinion given by experts. The contribution of the present...

This paper elucidates the conceptual role that independent randomization plays in non-cooperative game theory. In the context of large (atomless) games in normal form, we present precise formalizations of the notions of a mixed strategy equilibrium (MSE), and of a randomized strategy equilibrium...

Most papers which study the world trade network use indicators that suffer from an absence of economic content. Understanding this problem, we propose an alternative methodology to describe the international trade using a network perspective, but recovering the economic interpretation. The...

Filtering has had a profound impact as a device of perceiving information and deriving agent expectations in dynamic economic models. For an abstract economic system, this paper shows that the foundation of applying the filtering method corresponds to the existence of a conditional expectation...