Transactions at non-equilibrium prices are “false trades”. Under standard assumptions, markets without false trading produce Pareto-efficient outputs. This paper demonstrates graphically the complications created when false trades occur, showing that quantities produced deviate from Pareto-efficient quantities except under unique conditions. In a general equilibrium framework, this spills over ...

A non-cooperative game theoretical approach for analyzing opportunistic spectrum access in cognitive radio environments is proposed. New concepts from computational game theory are applied to spectrum access analysis in order to extract rules of behaviour for an emerging environment. In order to assess opportunistic spectrum access scenarios of cognitive radios, two oligopoly game models are re...

We propose a strategy for approximating Pareto optimal sets based on the global analysis framework proposed by Smale (Dynamical systems, Academic Press, New York (1973) 531– 544). We speak about synthetic approach because the optimal set is natively approximated by means of a compound geometrical object, i.e., a simplicial complex, rather than by an unstructured scatter of individual optima. Th...

A single-point local search method is presented as a simplification of the multiobjective tabu search. Some improvements are made to reach the Pareto front within small number of function evaluations. The performance of the proposed method is first verified by a small mathematical problem. It is shown that accurate Pareto optimal solutions with good diversity are obtained by using the proposed ...

The paper is devoted to applications of modern tools of variational analysis to equilibrium models of welfare economics involving nonconvex economies with infinite-dimensional commodity spaces. The main results relate to generalized/ extended second welfare theorems ensuring an equilibrium price support at Pareto optimal allocations. Based on advanced tools of generalized differentiation, we es...

Many real-world problems have a multiobjective character. A-posteriori techniques such as multiobjective evolutionary algorithms (MOEA) generate best compromise solution sets, i.e. Pareto-fronts and Pareto-sets. Classic MOEA are able to find quite efficiently good approximations of the complete Pareto-fronts also for very complex problems. In real-world applications only small sections of the c...

We conduct a computational analysis of fair and optimal partitions in additively separable hedonic games. We show that, for strict preferences, a Pareto optimal partition can be found in polynomial time while verifying whether a given partition is Pareto optimal is coNP-complete, even when preferences are symmetric and strict. Moreover, computing a partition with maximum egalitarian or utilitar...