A voting rule maps voter preferences into outcomes, and is called sophisticated if there exists a voting tree whose sophisticated outcomes coincide with the voting rule for every voter preference. As yet, no complete characterization of such rules is available. In this paper, we provide an...

This paper presents a genetic algorithm (GA) to solve the Traveling Umpire Problem, which is a recently introduced sports scheduling problem that is based on the most important features of the real Major League Baseball umpire scheduling problem. In our GA, contrary to the traditional way of...

New structure is discovered in the suggestive “world†created by Axelrod, which is based on iterated play of the Prisoner's Dilemma game, and was studied to reveal how cooperative behavior can arise in a world of egoists. One of Axelrod's conclusions is that the viability of a strategy...

We solve the optimal saving/portfolio-choice problem in an intertemporal recursive utility framework. Our solution to this problem is sufficiently general to allow (i) risk aversion to vary independently of intertemporal substitution, (ii) many risky assets, (iii) stochastic labor income that...

We derive discrete markov chain approximations for continuous state equilibrium term structure models. The states and transition probabilities of the markov chain are chosen effciently according to a quadrature rule as in Tauchen and Hussey (1991). Quadrature provides a simple yet method which...