This paper evaluates the performance of several popular technical trading rules applied to the Australian share market. The optimal trading rule parameter values over the in-sample period of 4/1/82 to 31/12/89 are found using a genetic algorithm. These optimal rules are then evaluated in terms...

It is well known that, under some conditions, tests are asymptotically equivalent, and are optimal in the sense that the local power of these tests are equal to the maximum that can be achieved. However, in most practical situations, the density function f is unknown.

In this paper I explore the concept of innovation. The aim is to bring to the fore the importance of learned habits on the motivation to innovate. Innovation is a learning process which results in a new product, a new process, a new movement, a new organisation or a new source of raw materials....