Ordinal optimisation and simulation

Ho Y-C, C G Cassandras, Chen C-H () and L Dai
Additional contact information
Ho Y-C: Harvard University
C G Cassandras: Boston University
Chen C-H: University of Pennsylvania
L Dai: Washington University

Journal of the Operational Research Society, 2000, vol. 51, issue 4, 490-500

Abstract: Abstract Simulation plays a vital role in designing and analysing stochastic systems, particularly, in comparing alternative system designs with a view to optimise system performance. Using simulation to analyse complex systems, however, can be both prohibitively expensive and time consuming. Efficiency is a key concern for the application of simulation to optimisation problems. Ordinal optimisation has emerged as an effective approach to significantly improve efficiency of simulation and optimisation. Ordinal optimisation for simulation problems achieves an exponential convergence rate. There are already several success stories of ordinal optimisation. This paper introduces the idea of ordinal optimisation, and reports some recent advances in this research. It also gives details of an extension of ordinal optimisation to a class of resource application problems.

Keywords: discrete-event simulation; ordinal optimisation; discrete-event dynamic systems; resource allocation problem (search for similar items in EconPapers)
Date: 2000
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Citations: View citations in EconPapers (13)

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DOI: 10.1057/palgrave.jors.2600906

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