Initialization of metaheuristics is a crucial topic that lacks a comprehensive and systematic review of the state of the art. Providing such a review requires in‐depth study and knowledge of the advances and challenges in the broader field of metaheuristics, especially with regard to...

The paper presents an extended version of the consumer choice problem. Different from the standard model, prices are not fixed but arise from Walrasian interactions of total demand and a stylized supply function for each of the goods. Three different types of evolutionary algorithms are set up...

In this paper we present an overview of methods and components of formal economic models employing evolutionary approaches. This compromises two levels: (1) techniques of evolutionary modelling, including multi-agent modelling, evolutionary algorithms and evolutionary game theory; (2) building...

Commonly used classification and regression tree methods like the CART algorithm are recursive partitioning methods that build the model in a forward stepwise search. Although this approach is known to be an efficient heuristic, the results of recursive tree methods are only locally optimal, as...

RFreak is an R package providing a framework for evolutionary computation. By enwrapping the functionality of an evolutionary algorithm kit written in Java, it offers an easy way to do evolutionary computation in R. In addition, application examples where an evolutionary approach is promising in...

Some aspects of economic systems (eg, nonlinearity, qualitative variables) are intractable when incorporated into models. The widespread practice of excluding them (or greatly limiting their role) produces deviations of unknown size and form between the resulting models and the reality they...

The NP-hard Vehicle Routing Problem (VRP) is central in the optimisation of distribution networks. Its main objective is to determine a set of vehicle trips of minimum total cost. The ideal schedule will efficiently exploit the company's recourses, service all customers and satisfy the given...

Some aspects of economic systems (eg, nonlinearity, qualitative variables) are intractable when incorporated into models. The widespread practice of excluding them (or greatly limiting their role) produces deviations of unknown size and form between the resulting models and the reality they...

This paper studies the dynamic and equilibrium-selecting behavior of a multi-agent system consisting of adaptive bargaining agents. We model an adaptive agent as a collection of strategies which is optimized by an evolutionary algorithm (EA). EAs are stochastic search methods based upon the...

In this paper, we propose a risk-based framework for military capability planning. Within this framework, metaheuristic techniques such as Evolutionary Algorithms are used to deal with multi-objectivity of a class of NP-hard resource investment problems, called The Mission Capability Planning...