Computing budget allocation rules for multi-objective simulation models based on different measures of selection quality

Authors:
Loo Hay Lee;Ek Peng Chew;Suyan Teng
Affiliations:
Department of Industrial and Systems Engineering, National University of Singapore, 10 Kent Ridge Crescent, Singapore 119260, Singapore;Department of Industrial and Systems Engineering, National University of Singapore, 10 Kent Ridge Crescent, Singapore 119260, Singapore;School of Engineering, Republic Polytechnic, 9 Woodlands Avenue 9, Singapore 738964, Singapore
Venue:
Automatica (Journal of IFAC)
Year:
2010

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Abstract

In an optimal computing budget allocation problem, different measures of selection quality determine how the best set of designs can be identified and how the simulation budget should be allocated among the designs. In this paper, we look at several measures of selection quality and derive respective allocation rules for the multi-objective computing budget allocation problem. Some computational experiments are carried out to compare the performance of the allocation rules and to identify the suitable ones in certain scenarios.