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January  2015, 11(1): 145-170. doi: 10.3934/jimo.2015.11.145

Modeling and solving alternative financial solutions seeking

Emmanuel Frénod 1, , Jean-Philippe Gouigoux 2, and  Landry Touré 2,

1. 

Université de Bretagne-Sud, UMR 6205, LMBA, F-56000 Vannes, France
2. 

MGDIS, Parc d'Innovation de Bretagne Sud, F-56038 Vannes, France, France

Received  April 2013 Revised  December 2013 Published  May 2014

In this paper we model the working of local community finances. As a result of this first step, we obtain a systemic model that is used to formalize the problem of Alternative Financial Solutions Seeking, which consists in building a collection of Alternative Multi-Year Prospective Budgets from two Multi-Year Prospective Budgets built by a finance expert. The modeling and formalization steps are led in a way that allows us to implement a software code for Alternative Financial Solutions Seeking based on a Genetic Like Algorithm.
Keywords: systemic modeling, optimization, Finance modeling, local communities, genetic algorithms..
Mathematics Subject Classification: Primary: 90C15, 62P20, 68Uxx, 93A30; Secondary: 91G4.
Citation: Emmanuel Frénod, Jean-Philippe Gouigoux, Landry Touré. Modeling and solving alternative financial solutions seeking. Journal of Industrial & Management Optimization, 2015, 11 (1) : 145-170. doi: 10.3934/jimo.2015.11.145
References:
[1]

La Qualité Comptable au service d'une gestion performante des collectivités locales - Guide des bonnes pratiques Num 18, Technical report,, Académie des sciences et techniques comptables financières., ().   Google Scholar

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Annexe Num 1: Plan de comptes développé des communes de 500 habitants et plus au 1ier janvier 2009, Technical report, Plan M14 de Comptabilité, French State Secretary for Finance, (http://www.collectivites-locales.gouv.fr/files/files/plan_m14d_2009_2. pdf), 2009. Google Scholar

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C. Castro, C. Antònio and L. Sousa, Optimisation of shape and process parameters in metal forging using genetic algorithms, Journal of Materials Processing Technology, 146 (2004), 356-364, URL http://www.sciencedirect.com/science/article/pii/S0924013603010525. doi: 10.1016/j.jmatprotec.2003.11.027.  Google Scholar

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K. De Jong, Proceedings of the Evolutionary Algorithms in Engineering Computer Science (EUROGEN99), chapter Evolutionary computation: Recent developments and open issues, 43-54, University of Jyvskyl Finland, Wiley, Chichester, 1999. Google Scholar

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[11]

V. Goodman and J. G. Stampfli, The Mathematics of Finance: Modeling and Hedging, American Mathematical Society, 2001.  Google Scholar

[12]

K. Ilinski, Physics of Finance : Gauge Modelling in Non-Equilibrium Pricing, Wiley, 2001. Google Scholar

[13]

C. Mattheck and S. Burkhardt, A new method of structural shape optimization based on biological growth, International Journal of Fatigue, 12 (1990), 185-190. doi: 10.1016/0142-1123(90)90094-U.  Google Scholar

[14]

R. Musgrave, The Theory of Public Finance : A Study in Public Economy, McGraw-Hill, 1959. Google Scholar

[15]

H. S. Rosen, Public finance, The Encyclopedia of Public Choice, (2004), 252-262. URL http://dx.doi.org/10.1007/978-0-387-75870-1_22. doi: 10.1007/978-0-306-47828-4_21.  Google Scholar

[16]

Chen S.-H. (ed.), Genetic Algorithms and Genetic Programming in Computational Finance, Kluwer Academic Publishers, 2002. Google Scholar

[17]

C. Soh and J. Yang, Fuzzy controlled genetic algorithm search for shape optimization, Journal of Computing in Civil Engineering, 10 (1996), 143-150. doi: 10.1061/(ASCE)0887-3801(1996)10:2(143).  Google Scholar

[18]

C. Tiebout, A pure theory of local expenditures, Journal of Political Economy, 64 (1956), 416-424. doi: 10.1086/257839.  Google Scholar

show all references

References:
[1]

La Qualité Comptable au service d'une gestion performante des collectivités locales - Guide des bonnes pratiques Num 18, Technical report,, Académie des sciences et techniques comptables financières., ().   Google Scholar

[2]

Annexe Num 1: Plan de comptes développé des communes de 500 habitants et plus au 1ier janvier 2009, Technical report, Plan M14 de Comptabilité, French State Secretary for Finance, (http://www.collectivites-locales.gouv.fr/files/files/plan_m14d_2009_2. pdf), 2009. Google Scholar

[3]

D. Beasley, D. Bull and R. Martin, An overview of genetic algorithms. part 1, fundamentals, University Computing, 15 (1993), 58-69. Google Scholar

[4]

D. Beasley, D. Bull and R. Martin, An overview of genetic algorithms. part 2, research topics, University Computing, 15 (1993), 170-181. Google Scholar

[5]

C. Castro, C. Antònio and L. Sousa, Optimisation of shape and process parameters in metal forging using genetic algorithms, Journal of Materials Processing Technology, 146 (2004), 356-364, URL http://www.sciencedirect.com/science/article/pii/S0924013603010525. doi: 10.1016/j.jmatprotec.2003.11.027.  Google Scholar

[6]

L. Davis, Handbook of Genetic Algorithms, Van Nostrand Reinhold, New York, 1991. Google Scholar

[7]

K. De Jong, Proceedings of the Evolutionary Algorithms in Engineering Computer Science (EUROGEN99), chapter Evolutionary computation: Recent developments and open issues, 43-54, University of Jyvskyl Finland, Wiley, Chichester, 1999. Google Scholar

[8]

E. Fama, Market efficiency, long-term returns, and behavioral finance, Journal of Financial Economics, 49 (1998), 283-306, URL http://www.sciencedirect.com/science/article/pii/S0304405X98000269. doi: 10.2139/ssrn.15108.  Google Scholar

[9]

P. Fourie and A. Groenwold, The particle swarm optimization algorithm in size and shape optimization, Structural and Multidisciplinary Optimization, 23 (2002), 259-267, URL http://dx.doi.org/10.1007/s00158-002-0188-0. doi: 10.1007/s00158-002-0188-0.  Google Scholar

[10]

D. E. Goldberg, Genetic Algorithms in Search, Optimization, and Machine Learning, 1st edition, Addison-Wesley Professional, 1989, URL http://www.amazon.com/exec/obidos/redirect?tag=citeulike07-20 &path=ASIN/0201157675. Google Scholar

[11]

V. Goodman and J. G. Stampfli, The Mathematics of Finance: Modeling and Hedging, American Mathematical Society, 2001.  Google Scholar

[12]

K. Ilinski, Physics of Finance : Gauge Modelling in Non-Equilibrium Pricing, Wiley, 2001. Google Scholar

[13]

C. Mattheck and S. Burkhardt, A new method of structural shape optimization based on biological growth, International Journal of Fatigue, 12 (1990), 185-190. doi: 10.1016/0142-1123(90)90094-U.  Google Scholar

[14]

R. Musgrave, The Theory of Public Finance : A Study in Public Economy, McGraw-Hill, 1959. Google Scholar

[15]

H. S. Rosen, Public finance, The Encyclopedia of Public Choice, (2004), 252-262. URL http://dx.doi.org/10.1007/978-0-387-75870-1_22. doi: 10.1007/978-0-306-47828-4_21.  Google Scholar

[16]

Chen S.-H. (ed.), Genetic Algorithms and Genetic Programming in Computational Finance, Kluwer Academic Publishers, 2002. Google Scholar

[17]

C. Soh and J. Yang, Fuzzy controlled genetic algorithm search for shape optimization, Journal of Computing in Civil Engineering, 10 (1996), 143-150. doi: 10.1061/(ASCE)0887-3801(1996)10:2(143).  Google Scholar

[18]

C. Tiebout, A pure theory of local expenditures, Journal of Political Economy, 64 (1956), 416-424. doi: 10.1086/257839.  Google Scholar

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