Using Simulation to Approximate the Minimum Cost of a Finite Set of Alternatives

Cuicui Zheng, James Calvin

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

We consider the problem of approximating the minimum cost of a finite set of alternative systems. We can not directly observe the cost of the systems, but we can estimate the cost using simulation. The simulation run lengths are adaptively chosen for each system. We describe an optimization algorithm and establish a bound on the error convergence rate. Compared with a single system, the error grows by an additional factor of the square root of the logarithm of the number of systems and the simulation budget.

Original languageEnglish (US)
Title of host publication2019 Winter Simulation Conference, WSC 2019
PublisherInstitute of Electrical and Electronics Engineers Inc.
Pages3428-3435
Number of pages8
ISBN (Electronic)9781728132839
DOIs
StatePublished - Dec 2019
Event2019 Winter Simulation Conference, WSC 2019 - National Harbor, United States
Duration: Dec 8 2019Dec 11 2019

Publication series

NameProceedings - Winter Simulation Conference
Volume2019-December
ISSN (Print)0891-7736

Conference

Conference2019 Winter Simulation Conference, WSC 2019
CountryUnited States
CityNational Harbor
Period12/8/1912/11/19

All Science Journal Classification (ASJC) codes

  • Software
  • Modeling and Simulation
  • Computer Science Applications

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