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

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.