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"Measuring the effectiveness and efficiency of simulation optimization metaheuristic algorithms"

Journal of Heuristics

Shane Hall · Assistant Professor of Management
Co-authors: Benjamin G. Thengvall, Michael P. Deskevich

Abstract: Metaheuristic algorithms have proven capable as general-purpose algorithms for solving simulation optimization problems. Researchers and practitioners often compare different metaheuristic algorithms by examining one or more measures that are derived through empirical analysis. This paper presents a single measure that can be used to empirically compare different metaheuristic algorithms for optimization problems. This measure incorporates both the effectiveness and efficiency of the metaheuristic algorithm, which is especially important in simulation optimization applications because the number of simulation runs available to the analyst (i.e., the run budget) can vary significantly with each simulation study. Therefore, the trade-off between the effectiveness and efficiency of a metaheuristic algorithm must be examined. This single measure is especially useful for multi-objective optimization problems; however, determining this measure is non-trivial for two or more objective functions. Additional details for calculating this measure for multi-objective optimization problems are provided as well as a procedure for comparing two or more metaheuristic algorithms. Finally, computational results are presented and analyzed to compare the performance of metaheuristic algorithms using knapsack problems, pure binary integer programs, traveling salesman problems, and the average results obtained across a diverse set of optimization problems that include simulation and multi-objective optimization problems.



"(Re)focusing on planetary boundaries for corporate sustainability research"

Strategic Organization

Brooke Lahneman · Assistant Professor of Management
Co-author: Judith Louise Walls, University of St. Gallen
Co-author: Kerrigan Marie Machado Unter, George Washington University
Co-author: Jennifer Howard-Grenville, University of Cambridge


Abstract: Earth’s natural systems are increasingly destabilizing as human industrial activity has overshot planetary boundaries such as climate change and biosphere integrity (biodiversity loss). While organizational scholarship on sustainability is increasing in prevalence and importance, the planetary boundaries framework has been under-studied and under-applied. To advance scholarship and practice, we assert the planetary boundaries framework can guide future research in three ways: (1) tuning to and measuring the state of particular planetary boundaries, (2) inviting attention to temporal and spatial properties, and (3) as a tool for inter- and transdisciplinary scholarship. We develop a reference framework that conceptualizes interactions between organizations and the planetary boundaries to develop specific, researchable questions. Organizational attention to planetary boundaries is driven by their dependence on them, which consequently impacts planetary boundaries and ecosystem resilience, with contextual influences shaping these interactions. We hope to encourage organizational scholars to explore how organizations can strategize and implement practices as embedded within planetary boundaries.

 

 

 

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