NDLI: Simulation-based optimization of an agent-based simulation

Content Provider	Springer Nature Link
Author	Deckert, Andreas Klein, Robert
Copyright Year	2014
Abstract	Optimization of an agent-based simulation (ABS) bears specific challenges. It is demonstrated in this paper that mainstream simulation-based optimization (SBO) approaches often do not perform well in such a setting, sometimes hardly outperforming a mere random search. Two new algorithms for SBO which combine superior solution quality with high resource efficiency and reliability for such problems are presented: an evolutionary algorithm called “neighbourhood elite selection” (NELS) with a specific selection mechanism which prevents premature clustering, and a hybrid algorithm which combines NELS with the popular best-in-class algorithm Simultaneous Perturbation Stochastic Approximation (SPSA). Those two algorithms are designed to perform well for problems which show typical properties of an agent-based simulation, a field that has largely been neglected so far, but should structurally also be universally applicable for other simulation-based optimization problems as well. In contrast to present literature, specific emphasis lies on the dynamic control of how many replications of the simulation are required for each solution brought up during the optimization run in order to make efficient use of the scarce simulation resources. The algorithms are benchmarked against the academic best-in-class optimization algorithm SPSA. A sketch of practical case studies is provided, showing how the optimization of an ABS can be used to help solve business decision problems like price optimization for a mobile phone operator.
Starting Page	33
Ending Page	56
Page Count	24
File Format	PDF
ISSN	13859587
Journal	NETNOMICS: Economic Research and Electronic Networking
Volume Number	15
Issue Number	1
e-ISSN	15737071
Language	English
Publisher	Springer US
Publisher Date	2014-01-14
Publisher Place	Boston
Access Restriction	Subscribed
Subject Keyword	Agent-based modelling Simulation Optimization Heuristics Decision support systems Telecommunications Economic Theory Data Structures, Cryptology and Information Theory Business Information Systems Economic Growth e-Commerce/e-business
Content Type	Text
Resource Type	Article
Subject	Computer Networks and Communications Economics and Econometrics Information Systems

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1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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