Redesigning a testbed of simulation-optimization problems and solvers for experimental comparisons

Redesigning a testbed of simulation-optimization problems and solvers for experimental comparisons. Eckman, D. J., Henderson, S. G., & Pasupathy, R. In Mustafee, N., Bae, K., Lazarova-Molnar, S., Rabe, M., Szabo, C., Haas, P., & Son, Y., editors, Proceedings of the 2019 Winter Simulation Conference, pages 3457–3467, Piscataway NJ, 2019. IEEE.
abstract bibtex

This tutorial provides an overview of guarantees on the probability of good selection (PGS) for ranking-and-selection procedures, i.e., statistical guarantees on selecting—with high probability—an alternative whose expected performance is within a given tolerance of the best. We discuss why PGS guarantees are superior to more popular, related guarantees on the probability of correct selection (PCS) under the indifference-zone formulation. We review existing procedures that deliver PGS guarantees and assess several direct and indirect methods of proof. We compare the frequentist and Bayesian interpretations of PGS and highlight the differences in how procedures with PGS guarantees are designed under the two frameworks.

@inproceedings{eckhenpas19,
	abstract = {This tutorial provides an overview of guarantees on the probability of good selection (PGS) for ranking-and-selection procedures, i.e., statistical guarantees on selecting---with high probability---an alternative whose expected performance is within a given tolerance of the best. We discuss why PGS guarantees are superior to more popular, related guarantees on the probability of correct selection (PCS) under the indifference-zone formulation. We review existing procedures that deliver PGS guarantees and assess several direct and indirect methods of proof. We compare the frequentist and Bayesian interpretations of PGS and highlight the differences in how procedures with PGS guarantees are designed under the two frameworks.},
	address = {Piscataway {NJ}},
	author = {David J. Eckman and Shane G. Henderson and Raghu Pasupathy},
	booktitle = {Proceedings of the 2019 Winter Simulation Conference},
	date-added = {2020-02-24 14:04:05 +1300},
	date-modified = {2020-02-24 14:05:37 +1300},
	editor = {N. Mustafee and K.-H.G. Bae and S. Lazarova-Molnar and M. Rabe and C. Szabo and P. Haas and Y.-J. Son},
	organization = {IEEE},
	pages = {3457--3467},
	title = {Redesigning a testbed of simulation-optimization problems and solvers for experimental comparisons},
	year = {2019}}

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