We develop a genetic algorithm that is able to find the optimal sequence of exchange rates that maximizes arbitrage profits with more than three currencies, being both the triangular arbitrage and the direct exchange rate two special cases of the proposed algorithm. Applying the algorithm to the...

We investigate the ability of a genetic algorithm to design cellular automata that perform computations. The computational strategies of the resulting cellular automata can be understood using a framework in which "particles" embedded in space-time configurations carry information and...

Technological change at the firm level has commonly been modeled as random sampling from a fixed distribution o f possibilities. Such models, however, typically ignore empirically important aspects of the firm's search process, notably the observation that the present state of the firm guides...

We develop an evolutionary algorithm to estimate Threshold Vector Error Correction models (TVECM) with more than two cointegrated variables. Since disregarding a threshold in cointegration models renders standard approaches to the estimation of the cointegration vectors inefficient, TVECM...

Social insects---ants, bees, termites and wasps---exhibit a collective problem-solving ability (Deneubourg and Goss, 1989; Bonabeau et al., 1997). In particular, several ant species are capable of selecting the shortest pathway, among a set of alternative pathways, from their nest to a food source...