Optimal budget allocation for discrete-event simulation experiments

Chun-Hung Chen, Enver Yücesan, Liyi Dai and Hsiao-Chang Chen

IISE Transactions, 2010, vol. 42, issue 1, 60-70

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.

Date: 2010
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DOI: 10.1080/07408170903116360

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