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.

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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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