Simulation optimization: a review, new developments, and applications

  • Authors:
  • Michael C. Fu;Fred W. Glover;Jay April

  • Affiliations:
  • University of Maryland, College Park, MD;University of Colorado, Boulder, CO;OptTek Systems, Inc., Boulder, CO

  • Venue:
  • WSC '05 Proceedings of the 37th conference on Winter simulation
  • Year:
  • 2005

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Abstract

We provide a descriptive review of the main approaches for carrying out simulation optimization, and sample some recent algorithmic and theoretical developments in simulation optimization research. Then we survey some of the software available for simulation languages and spreadsheets, and present several illustrative applications.