SINGLE- AND MULTI-OBJECTIVE RANKING AND SELECTION PROCEDURES IN SIMULATION: A HISTORICAL REVIEW

Authors

  • Moonyoung Yoon Stellenbosch University
  • James Bekker Stellenbosch University

DOI:

https://doi.org/10.7166/28-2-1732

Keywords:

simulation, ranking and selection, simulation optimisation

Abstract

Ranking and selection (R&S) procedures form an important research field in computer simulation and its applications. In simulation, one usually has to select the best from a number of scenarios or alternative designs. Often, the simulated processes have a stochastic nature, which means that, to distinguish alternatives, they must exhibit significant statistical differences. R&S procedures assist the decision-maker with the selection of the best alternative with high confidence. This paper reviews past and current R&S procedures. The review traces back to the 1950s, when the first R&S procedure was proposed, and discusses the various R&S procedures proposed since then to the present day, presenting a cursory view of the research in the area. The review includes studies in both the single-objective and the multi-objective domains. It presents the research trend, discusses specific issues, and gives recommendations for future research in both domains.

Author Biographies

Moonyoung Yoon, Stellenbosch University

Industrial Engineering

PhD student

James Bekker, Stellenbosch University

Industrial Engineering

Senior Lecturer

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Published

2017-09-04

How to Cite

Yoon, M., & Bekker, J. (2017). SINGLE- AND MULTI-OBJECTIVE RANKING AND SELECTION PROCEDURES IN SIMULATION: A HISTORICAL REVIEW. The South African Journal of Industrial Engineering, 28(2), 37–45. https://doi.org/10.7166/28-2-1732

Issue

Vol. 28 No. 2 (2017)

Section

General Articles

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