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In Peng et al. (2015b), we show that the probability of correct selection (PCS), a commonly used metric, is not necessarily monotonically increasing with respect to the number of simulation replications. A simple counterexample where the PCS may decrease with additional sampling is provided to motivate the problem. The reference identifies the induced correlations as the source of the non-monotonicity,...
Common random numbers and the standard clock method are examples of effective variance reduction techniques that also share information and simulation resources when generating realizations of different simulated systems whose performances are being compared. This sharing of computing resources and the potentially widely different computational requirements for different simulation models are important...
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