This paper develops a methodology to predict and to thus possibly mitigate the economic impacts of major catastrophes, such as earthquakes and tsunamis. The short-run impacts are assumed to be determined by the attempts of economic actors to return to the pre-catastrophe economic situation as...

Abstract: This article surveys optimization of simulated systems. The simulation may be either deterministic or random. The survey reflects the author’s extensive experience with simulation-optimization through Kriging (or Gaussian process) metamodels. The analysis of these metamodels may use...