Over the last two decades, simulation of construction operations has gained momentum in its ability to provide solutions and understand complex problems. However, there still rema...
We describe a discrete-process simulation analysis of a production system at an automotive supply company. This simulation project was undertaken with the goals of demonstrating a...
Recursive simulation is the technique of having simulated decisionmakers themselves use simulation to inform their decisionmaking. Issues of efficiency require that the recursive ...
A simulation model is composed of inputs and logic; the inputs represent the uncertainty or randomness in the system, while the logic determines how the system reacts to the uncer...
This paper reviews the use of Monte Carlo simulation in the field of financial engineering. It focuses on several interesting topics and introduces their recent development, inc...