This paper reviews, extends and analyzes a new class of penalty methods for nonlinear optimization. These methods adjust the penalty parameter dynamically; by controlling the degree of linear feasibility achieved at every iteration, they promote balanced progress toward optimality and feasibility. In contrast with classical approaches, the choice of the penalty parameter ceases to be a heuristi...

Several recent studies have shown a negative association between motherhood and wages. However, an analysis of change over time in the motherhood penalty has not been conducted. Using two cohorts of young women drawn from the 1975– 1985 National Longitudinal Survey of Young Women and the 1986–1998 National Longitudinal Survey of Youth, we explicitly test the relationship between motherhood and ...

in this paper, installment options on the underlying assetwhich evolves according to black-scholes model and pays constant dividendto its owner will be considered. applying arbitrage pricing theory,the non-homogeneous parabolic partial differential equation governingthe value of installment option is derived. then, penalty method is usedto value the european continuous installment call option.

Abstract In this paper, the convex nonsmooth optimization problem with fuzzy objective function and both inequality equality constraints is considered. The Karush–Kuhn–Tucker necessary optimality conditions are proved for such a extremum problem. Further, exact $$l_{1}$$ l 1 </mml:...

Optimization problems under uncertainty has achieved much attention because of inaccurate or incomplete data that often appear in real-world applications. In order to address this challenging issue, several types methodologies have been developed optimization theory and one them is fuzzy optimization. paper, an attempt taken use the minimax exact penalty function method for solving convex nondi...

In this paper we consider inequality constrained nonlinear optimization problems where the first order derivatives of the objective function and the constraints cannot be used. Our starting point is the possibility to transform the original constrained problem into an unconstrained or linearly constrained minimization of a nonsmooth exact penalty function. This approach shows two main difficult...

Article history: Received 5 June 2008 Received in revised form 5 December 2008 Accepted 8 December 2008 Available online xxxx MSC: 65N30 76E25 76W05