Optimal budget allocation for discrete-event simulation experiments

Optimal budget allocation for discrete-event simulation experiments

0.00 Avg rating0 Votes
Article ID: iaor20105870
Volume: 42
Issue: 1
Start Page Number: 60
End Page Number: 70
Publication Date: Jan 2010
Journal: IIE Transactions
Authors: , , ,
Abstract:

Simulation plays a vital role in analyzing discrete-event systems, particularly in comparing alternative system designs with a view to optimizing system performance. Using simulation to analyze complex systems, however, can be both prohibitively expensive and time-consuming. Effective algorithms to allocate intelligently a computing budget for discrete-event simulation experiments are presented in this paper. These algorithms dynamically determine the simulation lengths for all simulation experiments and thus significantly improve simulation efficiency under the constraint of a given computing budget. Numerical illustrations are provided and the algorithms are compared with traditional two-stage ranking-and-selection procedures through numerical experiments. Although the proposed approach is based on heuristics, the numerical results indicate that it is much more efficient than the compared procedures.

Reviews

Required fields are marked *. Your email address will not be published.