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Paper · 2008.00249 · 2020

Review on Ranking and Selection: A New Perspective

arXiv · PDF · Open in the Atlas

Code that ran

We lifted 3 functions out of this paper's own repositories and ran 3 of them in a sandbox. "Ran" means the function executed on a synthesized input and returned a value. It is not a reproduction of the paper's results.

RepositoryRoleRan
SimOpt-FDU/PySOBA pwc_unofficial 3 of 3
FunctionStatusWhere it lives
Normal Ran SimOpt-FDU/PySOBA/Sampler.py
code served (permissive licence) · get_code("62c3ff6c14363447")
SAN Ran SimOpt-FDU/PySOBA/Sampler.py
code served (permissive licence) · get_code("30549ce10ea3b58a")
sSInvt Ran SimOpt-FDU/PySOBA/Sampler.py
code served (permissive licence) · get_code("93e915c488f0dfec")

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Abstract

In this paper, we briefly review the development of ranking-and-selection (R&S) in the past 70 years, especially the theoretical achievements and practical applications in the last 20 years. Different from the frequentist and Bayesian classifications adopted by Kim and Nelson (2006b) and Chick (2006) in their review articles, we categorize existing R&S procedures into fixed-precision and fixed-budget procedures, as in Hunter and Nelson (2017). We show that these two categories of procedures essentially differ in the underlying methodological formulations, i.e., they are built on hypothesis testing and dynamic-programming, respectively. In light of this variation, we review in detail some well-known procedures in the literature and show how they fit into these two formulations. In addition, we discuss the use of R&S procedures in solving various practical problems and propose what we think are the important research questions in the field.

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