Data Farming leverages high performance computing to run simple models many times. This process allows for the exploration of massive parameter spaces relatively quickly. This pap...
We consider the optimal computing budget allocation (OCBA) problem where the simulated designs are correlated. The exact optimal allocation is presented for two designs, and an ap...
Michael C. Fu, Jian-Qiang Hu, Chun-Hung Chen, Xiao...
This paper describes a research plan to address the undergraduate learning challenges encountered when teaching an introductory simulation course in Industrial Engineering program...
We develop an efficient Monte Carlo algorithm for pricing barrier options with the variance gamma model (Madan, Carr, and Chang 1998). After generalizing the double-gamma bridge s...
This paper presents a new meta heuristic algorithm based on the search method called simulated annealing, and its application to solving multi objective simulation optimization pr...
Eduardo Alberto Avello, Felipe F. Baesler, Reinald...
A chemical plant in The Netherlands uses large annual supplies of a bulk chemical. A number of suppliers deliver their parcels from overseas by short sea vessel to a transshipment...
Henk de Swaan Arons, Eelco van Asperen, Rommert De...
Navy personnel use the REMUS unmanned underwater vehicle to search for submerged objects. Navigation inaccuracies lead to errors in predicting the location of objects and thus inc...
Timothy E. Allen, Arnold H. Buss, Susan M. Sanchez