The proposed approach to the insurance of regionally distributed property against risk catastrophes is based on finding statistically robust coverages of the insurance companies. Such coverages guarantee that all companies survive no matter what scenario of the catastrophe from a given scenarios...

An aggregation technique for constraints with values in Hilbert spaces is suggested. The technique allows to replace the original optimization problem by a sequence of subproblems having scalar or finite-dimensional constraints. Application to optimal control, games and stochastic programming...

The optimal use of indivisible resources is often the central issue in the economy and management. One of the main difficulties is the discontinuous nature of the resulting resource allocation problems which may lead to the failure of competitive market allocation mechanisms (unless we agree to...

A convex nonsmooth optimization problem is replaced by a sequence of line search problems along recursively updated rays. Convergence of the method is proved and applications to linear inequalities, constraint aggregation and saddle point seeking indicated.

Our basic model is a noncooperative multi-player game in which the governments of neighboring counties trade emission reductions. We prove the existence of a market equilibrium (combining properties of Pareto and Nash equilibria) and study algorithms of searching a market equilibrium. The...

Advanced methods of theory of optimal guaranteeing control and techniques of generalized (viscosity, minimax) solutions of Hamilton-Jacobi equations are applied to nonzero game interaction between two large groups (coalitions) of agents (participants) arising in economic and biological...

The paper presents a dynamic model of trading on market of patents. It is assumed that each firm participating in market produces its own technologies, whereas its manufacturing sector utilizes both originally produced technologies and those produced in other firms. The firms are therefore...

Growth - the change in number or size - and adaptation - the change in quality or structure - are key attributes of global processes in natural communities, society and economics (see, e.g. Hofbauer and Sigmund, 1988; Freedman, 1991; Young, 1993). In this paper we describe a model with explicit...

Consider two populations of agents who learn to play a game through. repetition. In fictitious play, each agent chooses a best replay to the frequency distribution of actions taken by the other side. A natural variant of this model is to assume that agents are heterogeneous in their information...