Modeling with Optimization and Simulation

Allen Holder and Joseph Eichholz
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Allen Holder: Rose-Hulman Institute of Technology
Joseph Eichholz: Rose-Hulman Institute of Technology

Chapter Chapter 12 in An Introduction to Computational Science, 2019, pp 403-430 from Springer

Abstract: Abstract Earlier chapters have already developed several examples demonstrating how an optimal property can characterize a computational study. For instance, optimization was used in the method of least squares in Sects. 3.1 and 3.2 , the development of principal component analysis in Sect. 3.4 , the examples and techniques in Chap. 4 , and the design of radiotherapy treatments in Sect. 8.2 . This chapter introduces two models associated with optimization and simulation, the latter of which is regularly employed within a search for optimality, see Sects. 4.3.1 (simulated annealing) and 4.3.2 (genetic algorithms) as examples. The first model of this chapter optimizes the selection of stocks for a portfolio, where stock prices are stochastic and simulated. The second model uses simulation to predict abrupt changes in a material property. We specifically study the Ising model to computationally illustrate magnetic phase transitions. Both models are famous and have had profound impacts.

Date: 2019
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DOI: 10.1007/978-3-030-15679-4_12

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