Please use this identifier to cite or link to this item: https://doi.org/10.1109/CoASE.2012.6386330
Title: An improved simulation budget allocation procedure to efficiently select the optimal subset of many alternatives
Authors: Zhang, S.
Lee, L.H. 
Chew, E.P. 
Chen, C.-H.
Jen, H.-Y.
Keywords: OCBA
simulation optimization
subset selection
Issue Date: 2012
Source: Zhang, S.,Lee, L.H.,Chew, E.P.,Chen, C.-H.,Jen, H.-Y. (2012). An improved simulation budget allocation procedure to efficiently select the optimal subset of many alternatives. IEEE International Conference on Automation Science and Engineering : 230-236. ScholarBank@NUS Repository. https://doi.org/10.1109/CoASE.2012.6386330
Abstract: How to maximize the probability of correctly selecting the top-m designs out of k designs under a computing budget constraint is crucial in simulation optimization. We develop a new procedure to be more efficient and robust than existing ones. The asymptotic convergence rate of this new procedure achieves higher convergence rate than others in correct selection probability for subset selection problems. Numerical experiments show that the new procedure obtains a higher probability of correctly selecting the optimal subset under the same computing budget. © 2012 IEEE.
Source Title: IEEE International Conference on Automation Science and Engineering
URI: http://scholarbank.nus.edu.sg/handle/10635/72282
ISBN: 9781467304283
ISSN: 21618070
DOI: 10.1109/CoASE.2012.6386330
Appears in Collections:Staff Publications

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