Abstract

YOON, M.  and  BEKKER, J.. Single- and multi-objective ranking and selection procedures in simulation: A historical review. S. Afr. J. Ind. Eng. [online]. 2017, vol.28, n.2, pp.37-45. ISSN 2224-7890.  https://doi.org/10.7166/28-2-1732.

Ranking and selection (R) procedures form an important research field in computer simulation and its applications. In simulation, one usually has to select the best from a number of scenarios or alternative designs. Often, the simulated processes have a stochastic nature, which means that, to distinguish alternatives, they must exhibit significant statistical differences. R procedures assist the decision-maker with the selection of the best alternative with high confidence. This paper reviews past and current R procedures. The review traces back to the 1950s, when the first R procedure was proposed, and discusses the various R procedures proposed since then to the present day, presenting a cursory view of the research in the area. The review includes studies in both the single-objective and the multi-objective domains. It presents the research trend, discusses specific issues, and gives recommendations for future research in both domains.

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