The public debate in Europe is turning against business because outsourcing and off-shoring are perceived to destroy jobs, and corporate profitability is seen as inconsistent with a wage stagnation of salaried employees. Managers in Europe feel surrounded by hostile regulation, protected product...

Models for the economic evaluation of health technologies provide valuable information to decision makers. The choice of model structure is rarely discussed in published studies and can affect the results produced. Many papers describe good modelling practice, but few describe how to choose from...

Sequential sampling problems arise in stochastic simulation and many other applications. Sampling is used to infer the unknown performance of several alternatives before one alternative is selected as best. This paper presents new economically motivated fully sequential sampling procedures to...

Although simulation is widely used to select the best of several alternative system designs, and common random numbers is an important tool for reducing the computation effort of simulation experiments, there are surprisingly few tools available to help a simulation practitioner select the best...

Selection procedures are used in a variety of applications to select the best of a finite set of alternatives. "Best" is defined with respect to the largest mean, but the mean is inferred with statistical sampling, as in simulation optimization. There are a wide variety of procedures, which begs...

One charge of the United States Environmental Protection Agency is to study the risk of infection for microbial agents that can be disseminated through drinking water systems, and to recommend water treatment policy to counter that risk. Recently proposed dynamical system models quantify...