In a presentation to the American Economics Association, McCloskey (1998) argued that "statistical significance is bankrupt" and that economists' time would be "better spent on finding out How Big Is Big". This brief survey is devoted to methods of determining "How Big Is Big". It is concerned...

We consider the problem of comparing a finite number of stochastic systems with respect to a single system (designated as the "standard") via simulation experiments. The comparison is based on expected performance, and the goal is to determine if any system has larger expected performance than...

Three alternative procedures to adjust significance levels for multiplicity are the traditional Bonferroni technique, a sequential Bonferroni technique developed by Hochberg (1988), and a sequential approach for controlling the false discovery rate proposed by Benjamini and Hochberg (1995)....

We present a general recipe for constructing experiment design and analysis procedures that simultaneously provide indifference-zone selection and multiple-comparison inference for choosing the best among k simulated systems. We then exhibit two such procedures that exploit the...