This article explores the influence of competitive conditions on the evolutionary fitness of risk preferences, using the professional competition between fund managers as a practical example. To explore how different settings of competition parameters, the exclusion rate and the exclusion...

Purpose: The aim of this research is to develop a more realistic approach to solve project time-cost optimization problem under uncertain conditions, with fuzzy time periods. Design/methodology/approach: Deterministic models for time-cost optimization are never efficient considering various...

A simple mathematical model describing the diffusion of a new, infrequently purchased product is proposed. Many previous papers have reported that the differing behaviour of quot;innovatorsquot; and quot;imitatorsquot; is fundamental to the diffusion process. However, previous models have failed...

Mathematical optimisation models, supported by suitable data, can assist decision making about allocating funds between alternative maintenance tasks and about the size of the maintenance budget. The maintenance optimisation problem is, in essence, to find the optimum balance between the costs...

Business tendency survey indicators are widely recognized as a key instrument for business cycle forecasting. Their leading indicator property is assessed with regard to forecasting industrial production in Russia and Germany. For this purpose, vector autoregressive (VAR) models are specified...

This study presents a first comparative analysis of Lasso-type (Lasso, adaptive Lasso, elastic net) and heuristic subset selection methods. Although the Lasso has shown success in many situations, it has some limitations. In particular, inconsistent results are obtained for pairwise strongly...