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Tree Diversity, Landscape Diversity, and Economics of Maple-Birch Forests: Implications of Markovian Models

Lin, Ching-Rong; Buongiorno, Joseph - In: Management Science 44 (1998) 10, pp. 1351-1366

Markov decision process (MDP) models were effective in analyzing forest management policies. Even the simplest standard results gave useful insights into forest ecology, such as how landscape diversity is shaped by natural catastrophes, and how forests mature through successional phases. The...

Persistent link: https://www.econbiz.de/10009191393

Skill in Games

Larkey, Patrick; Kadane, Joseph B.; Austin, Robert; … - In: Management Science 43 (1997) 5, pp. 596-609

differences among players. This paper uses a simplified version of stud poker to better understand the concept of differential … against one another in simulation tournaments. …

Persistent link: https://www.econbiz.de/10009191505

The Parameter Iteration Method in Dynamic Programming

Gal, Shmuel - In: Management Science 35 (1989) 6, pp. 675-684

state variable is overcome by means of an iterative method which combines simulation and recursive estimation to compute …

Persistent link: https://www.econbiz.de/10009191514

Nonparametric Estimation of the Cumulative Intensity Function for a Nonhomogeneous Poisson Process

Leemis, Lawrence M. - In: Management Science 37 (1991) 7, pp. 886-900

estimated cumulative intensity function can be used to generate a point process for Monte Carlo simulation by inversion. Three …

Persistent link: https://www.econbiz.de/10009191538

Cooperation in Evolving Social Networks

Hanaki, Nobuyuki; Peterhansl, Alexander; Dodds, Peter S.; … - In: Management Science 53 (2007) 7, pp. 1036-1050

We study the problem of cooperative behavior emerging in an environment where individual behaviors and interaction structures coevolve. Players not only learn which strategy to adopt by imitating the strategy of the best-performing player they observe, but also choose with whom they should...

Persistent link: https://www.econbiz.de/10009191564

Asymptotic Properties of Monte Carlo Estimators of Derivatives

Detemple, Jérôme; Garcia, René; Rindisbacher, Marcel - In: Management Science 51 (2005) 11, pp. 1657-1675

We study the convergence of Monte Carlo estimators of derivatives when the transition density of the underlying state variables is unknown. Three types of estimators are compared. These are respectively based on Malliavin derivatives, on the covariation with the driving Wiener process, and on...

Persistent link: https://www.econbiz.de/10009191577

Second Derivative Sample Path Estimators for the GI/G/m Queue

Fu, Michael C.; Hu, Jian-Qiang - In: Management Science 39 (1993) 3, pp. 359-383

complications encountered in applying the technique of SPA. The most general cases require the simulation of additional sample … subpaths; however, an approximation procedure is also introduced which eliminates the need for additional simulation …. Simulation results indicate that the approximation procedure is reasonably accurate. When the service times are exponential or …

Persistent link: https://www.econbiz.de/10009191602

Weighted Batch Means for Confidence Intervals in Steady-State Simulations

Bischak, Diane P.; Kelton, W. David; Pollock, Stephen M. - In: Management Science 39 (1993) 8, pp. 1002-1019

We propose a new procedure for providing confidence-interval estimators of the mean of a covariance-stationary process. The procedure, a modification of the method of batch means, is an improvement over existing methods when the process displays strong correlation and a comparatively small...

Persistent link: https://www.econbiz.de/10009191646

Control Variates for Quantile Estimation

Hsu, Jason C.; Nelson, Barry L. - In: Management Science 36 (1990) 7, pp. 835-851

New point and interval estimators for quantiles that employ a control variate are introduced. The properties of these estimators do not depend on the usual assumption of joint normality between the random variable of interest and the control. Illustrative examples for queueing and stochastic...

Persistent link: https://www.econbiz.de/10009191658

On the Effectiveness of Common Random Numbers

Wright, R. D.; T. E. Ramsay, Jr. - In: Management Science 25 (1979) 7, pp. 649-656

The common random number (CRN) simulation technique is a variance reduction method in which policy alternatives are … will be smaller than the variance of independent sample estimators. This paper reports simulation experiments with a …

Persistent link: https://www.econbiz.de/10009191691