Article ID: | iaor200973339 |
Volume: | 6 |
Issue: | 4 |
Start Page Number: | 222 |
End Page Number: | 238 |
Publication Date: | Dec 2009 |
Journal: | Decision Analysis |
Authors: | Merrick Jason R W |
Keywords: | simulation |
The aim of this expository survey on Bayesian simulation is to stimulate more work in the area by decision analysts. We discuss the main areas of research performed thus far, including input analysis, propagation and estimation of output uncertainty, output analysis, making decisions with simulations, selecting the best simulated system, and applications of Bayesian simulation methods. Throughout, we offer avenues of future research in Bayesian simulation that may be of interest to decision analysts.