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OPTIMIZING COMPLEX BIOECONOMIC SIMULATIONS USING AN EFFICIENT SEARCH HEURISTIC

For simulation to be truly useful for investigating many problems in agricultural economics, non-simplifying optimization techniques need to be employed. General methods for simulation optimization that do not inhibit system characterization or analysis are available, and they would appear to provide much of the mathematical and optimizing rigor demanded by economists. This paper describes the theory and algorithm of a robust and efficient simulation optimization approach, the Complex Method. An example of implementing the algorithm is illustrated using a pest management problem.
Year of publication:
1996
Authors: Kazmierczak Jr., Richard F.
Institutions: Department of Agricultural Economics and Agribusiness, Louisiana State University
Subject: simulation | optimization | Complex Method | hill-climbing | Research Methods/ Statistical Methods
Extent:
application/pdf
Series:
Type of publication: Book / Working Paper
Notes:
The text is part of a series Department of Agricultural Economics and Agricusiness>DAE Research Reports Number 31661
Source:
Persistent link: https://ebvufind01.dmz1.zbw.eu/10005522487
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