In this paper, we briefly review the development of ranking and selection (R&S) in the past
70 years, especially the theoretical achievements and practical applications in the past 20 …

In many real‐world applications, designs can only be evaluated pairwise, relative to each
other. Nevertheless, in the simulation literature, almost all the ranking and selection …

Under a Bayesian framework, we formulate the fully sequential sampling and selection
decision in statistical ranking and selection as a stochastic control problem, and derive the …

The ranking and selection problem is a well-known mathematical framework for the formal
study of optimal information collection. Expected improvement (EI) is a leading algorithmic …

This research develops an efficient ranking and selection procedure to select the best
design for terminating simulation under sequential sampling. This approach enables us to …

Ordinal optimization (OO) is a widely-studied technique for optimizing discrete-event
dynamic systems (DEDS). It evaluates the performance of the system designs in a finite set …

Simulation is often used to estimate the performance of alternative system designs for
selecting the best. For a complex system, high-fidelity simulation is usually time-consuming …

We review static and dynamic optimization formulations for simulation allocation and
selection procedures and revisit several sampling approaches under a single umbrella. We …

In their 2004 seminal paper, Glynn and Juneja formally and precisely established the rate-
optimal, probability-of-incorrect-selection, replication allocation scheme for selecting the …

In this note, we study a simulation optimization problem of selecting the alternative with the
best performance from a finite set, or a so-called ranking and selection problem, in a special …