Simulation Models

Abstract

Simulation models differ quite fundamentally to the type of optimization model discussed in the previous Chapters. An optimization model can be represented by

$$ Max (Or Min) f(x)$$

$$ subject to g(x)=0 $$

that is, some function of x is optimized subject to a set of constraints on x; if the objective function and the constraint set are linear equations in x, and x ≥ 0, we then have a socalled linear programming model, many applications of which we have already discussed. In contrast, a simulation model can be represented simply by

$$h(x) = 0.$$