Simulation Optimization: A Review, New Developments, and Applications

Michael C. Fu · Fred Glover · J. April

382 citations0/0 files storedWinter Simulation Conference

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Simulation Techniques and Applications Complex Systems and Decision Making Modeling and Simulation Systems

Abstract

We provide a descriptive review of the main approaches for carrying out simulation optimization, and sample some recent algorithmic and theoretical developments in simulation optimization research. Then we survey some of the software available for simulation languages and spreadsheets, and present several illustrative applications.

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References

1992Multivariate stochastic approximation using a simultaneous perturbation gradient approximation 2000Simulation Budget Allocation for Further Enhancing the Efficiency of Ordinal Optimization 2002Feature Article: Optimization for simulation: Theory vs. Practice 1996Design and Analysis of Experiments for Statistical Selection, Screening and Multiple Comparisons 1992Ordinal optimization of DEDS 1994Optimization via simulation: A review

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