OPTIMIZING COMPLEX BIOECONOMIC SIMULATIONS USING AN EFFICIENT SEARCH HEURISTIC

Richard Kazmierczak ()

No 31661, DAE Research Reports from Louisiana State University, Department of Agricultural Economics and Agribusiness

Abstract: For simulation to be truly useful for investigating many problems in agricultural economics, non-simplifying optimization techniques need to be employed. General methods for simulation optimization that do not inhibit system characterization or analysis are available, and they would appear to provide much of the mathematical and optimizing rigor demanded by economists. This paper describes the theory and algorithm of a robust and efficient simulation optimization approach, the Complex Method. An example of implementing the algorithm is illustrated using a pest management problem.

Keywords: Research; Methods/Statistical; Methods (search for similar items in EconPapers)
Pages: 38
Date: 1996
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Persistent link: https://EconPapers.repec.org/RePEc:ags:lsudrr:31661

DOI: 10.22004/ag.econ.31661

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