OPTIMIZING COMPLEX BIOECONOMIC SIMULATIONS USING AN EFFICIENT SEARCH HEURISTIC

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 characterization or analysis are available, and they would appear to provide much of the mathematical and optimizing rigor demanded by economists. This paper describes the theory and algorithm of a robust and efficient simulation optimization approach, the Complex Method. An example of implementing the algorithm is illustrated using a pest management problem.


Issue Date:
1996
Publication Type:
Working or Discussion Paper
PURL Identifier:
http://purl.umn.edu/31661
Total Pages:
38
Series Statement:
D.A.E. Research Report 704




 Record created 2017-04-01, last modified 2017-08-24

Fulltext:
Download fulltext
PDF

Rate this document:

Rate this document:
1
2
3
 
(Not yet reviewed)