We present a state-of-the-art review of ranking, selection and multiple-comparison procedures that are used to compare system designs via computer simulation. We describe methods for four classes of problems: screening a large number of system designs, selecting the best system, comparing all systems to a standard and comparing alternatives to a default. Rather than give a comprehensive review, we present the methods we would be likely to use in practice and emphasize recent results. Where possible, we unify the ranking-and-selection and multiple-comparison perspectives.
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Goldsman et al. (2005) studied this question.
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