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This study aims to make a comparative investigation on performance analysis of cascade refrigeration systems using R744/R717, R744/R134a, and R744/R1234yf refrigerant pairs. Artificial Cooperative Search methaheuristic algorithm is put into practice to obtain the optimal values of eight design parameters including Condenser and evaporator temperature, R744 condensing temperature, temperature difference in the cascade condenser, and amount of subcooling and superheating at the bottom and the top of the cascade cycle. Second law efficiency and total annual cost of the cascade refrigeration system are chosen as design objectives to be optimized individually and concurrently in order to obtain the optimal operating conditions of the system. Single optimization results show that R744/R1234yf system has the lowest operating cost while having the highest second law efficiency compared to other cycle configurations. A set of non-dominated solutions obtained through multi objective Artificial Cooperative Search algorithm is represented in the form of Pareto front and the best result is chosen from the well-reputed decision makers of TOPSIS and LINMAP for each cycle configuration. Multi objective optimization results reveal that design variables of the refrigeration system can create a trade off between problem objectives. A sensitivity analysis is performed to investigate the influences of varying values of design variables upon problem objectives while the system is operated under optimal conditions. [ABSTRACT FROM AUTHOR]