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Title: Simulation optimization using the particle swarm optimization with optimal computing budget allocation
Authors: Zhang, S.
Chen, P.
Lee, L.H. 
Peng, C.E. 
Chen, C.-H.
Issue Date: 2011
Citation: Zhang, S.,Chen, P.,Lee, L.H.,Peng, C.E.,Chen, C.-H. (2011). Simulation optimization using the particle swarm optimization with optimal computing budget allocation. Proceedings - Winter Simulation Conference : 4298-4309. ScholarBank@NUS Repository.
Abstract: Simulation has been applied in many optimization problems to evaluate their solutions' performance under stochastic environment. For many approaches solving this kind of simulation optimization problems, most of the attention is on the searching mechanism. The computing efficiency problems are seldom considered and computing replications are usually equally allocated to solutions. In this paper, we integrate the notion of optimal computing budget allocation (OCBA) into a simulation optimization approach, Particle Swarm Optimization (PSO), to improve the efficiency of PSO. The computing budget allocation models for two versions of PSO are built and two allocation rules PSOs-OCBA and PSObw-OCBA are derived by some approximations. The numerical result shows the computational efficiency of PSO can be improved by applying these two allocation rules. © 2011 IEEE.
Source Title: Proceedings - Winter Simulation Conference
ISBN: 9781457721083
ISSN: 08917736
DOI: 10.1109/WSC.2011.6148117
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