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Title: Integration of indifference-zone with multi-objective computing budget allocation
Authors: Teng, S. 
Lee, L.H. 
Chew, E.P. 
Keywords: Computing budget allocation
Lagrange relaxation
Issue Date: 1-Jun-2010
Citation: Teng, S., Lee, L.H., Chew, E.P. (2010-06-01). Integration of indifference-zone with multi-objective computing budget allocation. European Journal of Operational Research 203 (2) : 419-429. ScholarBank@NUS Repository.
Abstract: In this paper, we consider how to address the issues of having designs with close performance in the multi-objective ranking and selection (MORS) problem. To resolve this issue we propose integrating the indifference-zone (IZ) concept into the multi-objective computing budget allocation (MOCBA) framework. In particular, when IZ is introduced into the MOCBA framework, we address how to determine the probability of non-dominance, how to define the Pareto set, and how to derive allocation rules for the simulation replications. Empirical results show that the MOCBA framework with IZ can significantly save simulation budget when designs to be compared have close performance. © 2009 Elsevier B.V. All rights reserved.
Source Title: European Journal of Operational Research
ISSN: 03772217
Appears in Collections:Staff Publications

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