Selecting the best simulated system with weighted control-variate estimators

Abstract

Ranking and selection (R&S) procedures have been considered an effective tool to solve simulation optimization problems with a iscrete and finite decision space. Control variate (CV) is a variance reduction technique that requires no intervention in the way the imulation experiment is performed, and the least-squares regression package needed to implement… (More)
DOI: 10.1016/j.matcom.2011.09.008

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