IDEAS home Printed from https://ideas.repec.org/a/cup/jfinqa/v2y1967i01p31-51_01.html
   My bibliography  Save this article

The Application of Optimum-Seeking Techniques to Simulation Studies: A Preliminary Evaluation*

Author

Listed:
  • Meier, Robert C.

Abstract

The origins of the application of quantitative methods to the determination of optimum solutions to managerial problems can be traced back at least as far as 50 years when calculus techniques were first suggested for solution of economic lot size problems. However, the great increase in applications of optimizing techniques occurred after the Second World War with the popularization of the operations research concept and development of a wide variety of mathematical tools — among them linear programming, queuing theory, dynamic programming, and network flow theory. The development of digital computers in the late 1940's substantially reduced computational problems associated with the use of many mathematical methods and also made possible the use of simulation techniques which, without digital computers, are not ordinarily practical because of the large amount of computation involved.

Suggested Citation

  • Meier, Robert C., 1967. "The Application of Optimum-Seeking Techniques to Simulation Studies: A Preliminary Evaluation*," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 2(1), pages 31-51, March.
    • Handle: RePEc:cup:jfinqa:v:2:y:1967:i:01:p:31-51_01
    as

    Download full text from publisher

    File URL: https://www.cambridge.org/core/product/identifier/S0022109000015477/type/journal_article
    File Function: link to article abstract page
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Azadivar, Farhad & Lee, Young-Hae, 1988. "Optimization of discrete variable stochastic systems by computer simulation," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 30(4), pages 331-345.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cup:jfinqa:v:2:y:1967:i:01:p:31-51_01. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kirk Stebbing (email available below). General contact details of provider: https://www.cambridge.org/jfq .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.