Controlled multistage selection procedures for comparison with a standard
Comparison with a standard is a general multiple comparison problem, where each system is required to be compared to a single system, referred to as a “standard”, as well as to other alternative systems. The goal is to determine the best system among a number of systems that are better than the standard, or to select the standard when it is equal to or better than the other alternatives. Kim (2005) proposed an efficient fully sequential procedure for comparison with a standard, that obtains a single observation at each stage from the surviving systems, and is one of the most efficient existing procedures. We develop two provably valid multistage selection procedures that take a number of observations from each system and update the variance estimators at each stage. We also employ appropriate control variate technique for each procedure to further improve the efficiency. Empirical results are provided to demonstrate that the proposed procedures are statistically and computationally more efficient than existing fully sequential procedures.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- S. S. Lavenberg & P. D. Welch, 1981. "A Perspective on the Use of Control Variables to Increase the Efficiency of Monte Carlo Simulations," Management Science, INFORMS, vol. 27(3), pages 322-335, March.
- Vadim Lesnevski & Barry L. Nelson & Jeremy Staum, 2007. "Simulation of Coherent Risk Measures Based on Generalized Scenarios," Management Science, INFORMS, vol. 53(11), pages 1756-1769, November.
- Pichitlamken, Juta & Nelson, Barry L. & Hong, L. Jeff, 2006. "A sequential procedure for neighborhood selection-of-the-best in optimization via simulation," European Journal of Operational Research, Elsevier, vol. 173(1), pages 283-298, August.
- Batur, D. & Choobineh, F., 2010. "A quantile-based approach to system selection," European Journal of Operational Research, Elsevier, vol. 202(3), pages 764-772, May.
- Barry L. Nelson & David Goldsman, 2001. "Comparisons with a Standard in Simulation Experiments," Management Science, INFORMS, vol. 47(3), pages 449-463, March.
- Sriver, Todd A. & Chrissis, James W. & Abramson, Mark A., 2009. "Pattern search ranking and selection algorithms for mixed variable simulation-based optimization," European Journal of Operational Research, Elsevier, vol. 198(3), pages 878-890, November.
When requesting a correction, please mention this item's handle: RePEc:eee:ejores:v:223:y:2012:i:3:p:709-721. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei)
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.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.