Some efficient simulation budget allocation rules for simulation optimisation problems
by Loo Hay Lee; Chun-Hung Chen; Ek Peng Chew; Si Zhang; Juxin Li; Nugroho Artadi Pujowidianto
International Journal of Services Operations and Informatics (IJSOI), Vol. 8, No. 1, 2013

Abstract: In service industry, various decisions need to be made to design these service systems or improve their performances. In the face of complex systems and many choices, simulation is used to estimate the performance measures of each alternative when analytical expression is too complex or even unavailable. As multiple replications are required for each design, there is a need to efficiently allocate the simulation budget. The Optimal Computing Budget Allocation (OCBA) is an approach that intelligently allocates simulation budget for maximising the desired selection quality in finding the best alternative(s) and has demonstrated its ability in significantly enhancing simulation efficiency. In this paper, we present three latest developments on OCBA for the optimal subset selection, constrained optimisation, and multi-objective optimisation problems. The models, the corresponding asymptotically optimal allocation rules, are provided together with numerical results showing their efficiency. The proposed rules are also further discussed from the large deviations perspective.

Online publication date: Mon, 22-Sep-2014

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Services Operations and Informatics (IJSOI):
Login with your Inderscience username and password:

Username:        Password:          Forgotten your password?

Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com