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 … economists. This paper describes the theory and algorithm of a robust and efficient simulation optimization approach, the Complex …

approximating functions (Smolyak, stochastic simulation, and ε -distinguishable set grids), accurate low-cost monomial integration …

peak exploitation of the available production units …

simulation experiment we conclude that among the studied analytical approaches the one based on approximating the distribution of … the multiple period shocks by a skew-t was the best. It was almost as good as the simulation based alternative. We also …

simulation using the 2008 data of the Hungarian higher education admission scheme. …

Most finance textbooks talk about the benefits of conducting sensitivity and/or Monte Carlo simulation analyses in … comes to simulation analysis, which typically requires the use of a third-party add-in or a significant level of programming … implement sensitivity and simulation analyses. This approach requires only minor modifications to the base-case model; without …

We develop numerically stable and accurate stochastic simulation approaches for solving dynamic economic models. First …

in terms of the defined quality criterion. The applied approach is based on a simulation experiment method. A computer … the studied class of problems. The main theoretical contribution to the studied field is integration of the buffer … allocation issue, defined as an optimization problem, into the simulation experiment method. The practical conclusions show the …