We formulate a model of a parimutuel system which considers a horse race with two horses. In our model, the raceholder offers a rate of his total betting revenue in the first stage. In the second stage each bettor simultaneously decides whether he bets one unit of money on one horse or he...

Number partitioning is a classical NP-hard combinatorial optimization problem, whose solution is challenging for both exact and approximative methods. This work presents a new algorithm for number partitioning, based on ideas drawn from tree search, breadth first search, and beam search. A new...