Abstract:Some ranking and selection (R&S) procedures for steady-state simulation require estimates of the asymptotic variance parameter of each system to guarantee a certain probability of correct selection. In this paper, we show that the performance of such R&S procedures depends highly on the quality of the variance estimates that are used. In fact, we study the performance of R&S procedures using three new variance estimatorsoverlapping area, overlapping Cramér-von Mises, and overlapping modified jackknifed Durbin-… Show more
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