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Simulation by repeated optimisation

Author

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  • R G Coyle

    (Shrivenham)

Abstract

The problems of improving the performance of system dynamics models is briefly reviewed and it is suggested that dynamic optimisation offers some solutions to those difficulties. Since dynamic optimisation is relatively uncommon in OR, the basic theory is explained, attention is drawn to the weaknesses of the technique and the approach is illustrated by an example. The differences between unconstrained and constrained optimisation are explored and constrained optimisation, and the interpretation of its results, is illustrated by two cases. Finally, some summary thoughts are presented.

Suggested Citation

  • R G Coyle, 1999. "Simulation by repeated optimisation," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 50(4), pages 429-438, April.
    • Handle: RePEc:pal:jorsoc:v:50:y:1999:i:4:d:10.1057_palgrave.jors.2600713
    DOI: 10.1057/palgrave.jors.2600713
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    Cited by:

    1. Gönenç Yücel & Yaman Barlas, 2011. "Automated parameter specification in dynamic feedback models based on behavior pattern features," System Dynamics Review, System Dynamics Society, vol. 27(2), pages 195-215, April.
    2. Thomas Spengler & Marcus Schröter, 2003. "Strategic Management of Spare Parts in Closed-Loop Supply Chains—A System Dynamics Approach," Interfaces, INFORMS, vol. 33(6), pages 7-17, December.
    3. A. Sardi & E. Sorano, 2021. "Dynamic Performance Management: An Approach for Managing the Common Goods," Papers 2102.04090, arXiv.org.
    4. Alberto Sardi & Enrico Sorano, 2019. "Dynamic Performance Management: An Approach for Managing the Common Goods," Sustainability, MDPI, vol. 11(22), pages 1-22, November.

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