By Hall E. H.

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27(8) (1991), 1407–1421. [14] Androulakis, I. P. : A genetic algorithmic framework for process design and optimization, Computers Chem. Engng. 15(4) (1991), 217–228. [15] Byrne, R. P. and Bogle, I. D. : Global optimisation of constraiuned non-convex programs using reformulation and interval analysis, Computers Chem. Engng. 23 (1999), 1341–1350. [16] Garrard, A. and Fraga, E. : Mass exchange network synthesis using genetic algorithms, Computers Chem. Eng. 22(12) (1998), 1837–1850. [17] Quesada, I.

Such that an event belongs to a -algebra for all t). ). However, in this paper we will focus on the fiscal interest of the state. Namely, knowing the optimal behavior of the investor (optimal investment rule in (7)), the state will try to choose such depreciation policy that maximizes discounted tax payments from this project into the budget over all D from a given set of available depreciation flows where is determined by the formula (2). e. solution of the problem (8) (if it exists). The interaction of the investor and the state can be interpreted from the game-theoretical point of view.

2002 Kluwer Academic Publishers. Printed in the Netherlands. 50 J. M. Calvin and A. Žilinskas quadratic functions, for example. Although in many papers it is not formally emphasized, the minimax approach was used. In light of pessimistic results implying exponential complexity of the proposed algorithms, investigation of optimal algorithms became important. However, it was proved that optimal algorithms also have exponential complexity. The minimax approach can not escape exponential complexity because a broad class of multimodal functions contains pathological examples.

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