Simulating Stable Stochastic Systems: III. Regenerative Processes and Discrete-Event Simulations

Michael A. Crane and Donald L. Iglehart
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Michael A. Crane: Control Analysis Corporation, Palo Alto, California
Donald L. Iglehart: Stanford University, Stanford, California

Operations Research, 1975, vol. 23, issue 1, 33-45

Abstract: This paper shows that a previously developed technique for analyzing simulations of GI / G / s queues and Markov chains applies to discrete-event simulations that can be modeled as regenerative processes. It is possible to address questions of simulation run duration and of starting and stopping simulations because of the existence of a random grouping of observations that produces independent identically distributed blocks in the course of the simulation. This grouping allows one to obtain confidence intervals for a general function of the steady-state distribution of the process being simulated and for the asymptotic cost per unit time. The technique is illustrated with a simulation of a retail inventory distribution system.

Date: 1975
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Persistent link: https://EconPapers.repec.org/RePEc:inm:oropre:v:23:y:1975:i:1:p:33-45

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