To analyze welfare economics with status quo bias, we identify each agent with the incomplete preference relation defined by the preference judgments that hold at all of the agent’s status quo points. Although the welfare theorems of general equilibrium theory continue to hold, the set of Pareto optima can be very large. For generic economies, almost every Pareto optimum sits amid an open set o...

Multi-objective optimisation problems normally have not one but a set of solutions, which are called Pareto-optimal solutions or non-dominated solutions. Once a Pareto-optimal set has been obtained, the decision-maker faces the challenge of analysing a potentially large set of solutions. Selecting one solution over others can be quite a challenging task because the Pareto set can contain an unm...

Over the past few years, the research on evolutionary algorithms has demonstrated their niche in solving multi-objective optimization problems, where the goal is to find a number of Pareto-optimal solutions in a single simulation run. However, none of the multi-objective evolutionary algorithms (MOEAs) has a proof of convergence to the true Pareto-optimal solutions with a wide diversity among t...

In this paper, the average cases of Markov decision processes with uncertainty is considered. That is, a controlled Markov set-chain model with a finite state and action space is developed by an interval arithmetic analysis, and we will find a Pareto optimal policy which maximizes the average expected rewards over all stationary policies under a new partial order. The Pareto optimal policies is...

In this paper, we propose near admissible multiobjective search algorithms to approximate, with performance guarantee, the set of Pareto optimal solution paths in a state space graph. Approximation of Pareto optimality relies on the use of an epsilon-dominance relation between vectors, significantly narrowing the set of nondominated solutions. We establish correctness of the proposed algorithms...

A Multi-objective optimization procedure has been developed to determine some kinetic parameters of free radical polymerization of vinyl acetate based on genetic algorithm. For this purpose, mathematical modeling of free radical polymerization of vinyl acetate is carried out first and then selected kinetic parameters are optimized by minimizing objective functions defined from comparing exp...