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Fifty years of stochastic simulation: Where we are and where we need to go

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  • Hong, L. Jeff
  • Nelson, Barry L.

Abstract

Stochastic computer simulation is the go-to tool for operational researchers designing and improving complex systems that must perform in the face of uncertainty. In this article, we reflect on key advances in simulation analysis methodology over the past 50 years and speculate on future research directions, employing three recent real applications of simulation to ground our discussion.

Suggested Citation

  • Hong, L. Jeff & Nelson, Barry L., 2026. "Fifty years of stochastic simulation: Where we are and where we need to go," European Journal of Operational Research, Elsevier, vol. 330(3), pages 701-714.
    • Handle: RePEc:eee:ejores:v:330:y:2026:i:3:p:701-714
    DOI: 10.1016/j.ejor.2025.06.033
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