{"title":"Ontology Derived Conceptual Modeling for Simulation","authors":"Nurul Saleh, David Bell","doi":"10.36819/sw20.027","DOIUrl":"https://doi.org/10.36819/sw20.027","url":null,"abstract":"","PeriodicalId":149666,"journal":{"name":"Proceedings of SW21 The OR Society Simulation Workshop","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123664972","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Tutorial on Simulation Model Verification and Validation","authors":"S. Robinson","doi":"10.36819/sw20.004","DOIUrl":"https://doi.org/10.36819/sw20.004","url":null,"abstract":"","PeriodicalId":149666,"journal":{"name":"Proceedings of SW21 The OR Society Simulation Workshop","volume":"70 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127272007","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Armando Nieto, Divina Pastora Seguros, A. Juan, Renatas Kizys, C. Bayliss
The management of assets and liabilities is of critical importance for insurance companies and banks. Complex decisions need to be made regarding how to assign assets to liabilities such in a way that the overall benefit is maximised over a multi-period horizon. At the same time, the risk of not being able to cover the liabilities at any given period must be kept under a certain threshold level. This optimisation problem is known in the literature as the asset and liability management (ALM) problem. In this work, we propose a biased-randomised algorithm to solve a real-life instance of the ALM problem. Firstly, we outline a greedy heuristic. Secondly, we transform it into a probabilistic algorithm by employing Monte-Carlo simulation and biased-randomisation techniques. According to our computational tests, the probabilistic algorithm is able to generate, in short computing times, solutions that outperform by far the ones currently practised in the sector.
{"title":"Asset and Liability Management in Insurance Firms: A Biased-Randomised Approach Combining Heuristics with Monte-Carlo Simulation","authors":"Armando Nieto, Divina Pastora Seguros, A. Juan, Renatas Kizys, C. Bayliss","doi":"10.36819/SW21.044","DOIUrl":"https://doi.org/10.36819/SW21.044","url":null,"abstract":"The management of assets and liabilities is of critical importance for insurance companies and banks. Complex decisions need to be made regarding how to assign assets to liabilities such in a way that the overall benefit is maximised over a multi-period horizon. At the same time, the risk of not being able to cover the liabilities at any given period must be kept under a certain threshold level. This optimisation problem is known in the literature as the asset and liability management (ALM) problem. In this work, we propose a biased-randomised algorithm to solve a real-life instance of the ALM problem. Firstly, we outline a greedy heuristic. Secondly, we transform it into a probabilistic algorithm by employing Monte-Carlo simulation and biased-randomisation techniques. According to our computational tests, the probabilistic algorithm is able to generate, in short computing times, solutions that outperform by far the ones currently practised in the sector.","PeriodicalId":149666,"journal":{"name":"Proceedings of SW21 The OR Society Simulation Workshop","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127303463","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
D. Zee, F. Postema, T. Monks, Willemijn J. Maas, M. Lahr, M. Uyttenboogaart, E. Buskens
{"title":"Maintaining Domain Specific Simulation Modelling Frameworks - A Case Study on Modelling Hyper Acute Stroke Pathways","authors":"D. Zee, F. Postema, T. Monks, Willemijn J. Maas, M. Lahr, M. Uyttenboogaart, E. Buskens","doi":"10.36819/SW21.040","DOIUrl":"https://doi.org/10.36819/SW21.040","url":null,"abstract":"","PeriodicalId":149666,"journal":{"name":"Proceedings of SW21 The OR Society Simulation Workshop","volume":"133 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117267211","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Analysis of Complexity and Simulation Usage in Manufacturing SMEs","authors":"James Byrne, P. Liston, P. Byrne","doi":"10.36819/sw20.012","DOIUrl":"https://doi.org/10.36819/sw20.012","url":null,"abstract":"","PeriodicalId":149666,"journal":{"name":"Proceedings of SW21 The OR Society Simulation Workshop","volume":"790 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123309287","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper examines the role of a simulation model being developed within a group model building process. The paper argues that the model can be conceptualized as a being an agent in a model building group which influences, shapes and challenges the thinking of the group members. The paper presents two case studies of group model building projects and shows how the agency of the model in differently composed groups.
{"title":"The Agency Role of SD Models in Model-Building Groups","authors":"M. Kapsali, S. Bayer, S. Brailsford, T. Bolt","doi":"10.36819/sw20.030","DOIUrl":"https://doi.org/10.36819/sw20.030","url":null,"abstract":"This paper examines the role of a simulation model being developed within a group model building process. The paper argues that the model can be conceptualized as a being an agent in a model building group which influences, shapes and challenges the thinking of the group members. The paper presents two case studies of group model building projects and shows how the agency of the model in differently composed groups.","PeriodicalId":149666,"journal":{"name":"Proceedings of SW21 The OR Society Simulation Workshop","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125614078","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Full-Day Simulation of Field Engineering Operations","authors":"Nicola Wong, M. Kern, A. Liret, R. Dorne","doi":"10.36819/sw20.011","DOIUrl":"https://doi.org/10.36819/sw20.011","url":null,"abstract":"","PeriodicalId":149666,"journal":{"name":"Proceedings of SW21 The OR Society Simulation Workshop","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133996733","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
M. Kern, Russell Ainslie, Doug Williams, Arnaud Jacquet, Nicola Wong
{"title":"Agent-Based Simulation of Household Bandwidth Demand","authors":"M. Kern, Russell Ainslie, Doug Williams, Arnaud Jacquet, Nicola Wong","doi":"10.36819/sw20.025","DOIUrl":"https://doi.org/10.36819/sw20.025","url":null,"abstract":"","PeriodicalId":149666,"journal":{"name":"Proceedings of SW21 The OR Society Simulation Workshop","volume":"69 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122411355","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"When Simulation becomes Human Centric Analytics","authors":"Christina Phillips","doi":"10.36819/sw20.033","DOIUrl":"https://doi.org/10.36819/sw20.033","url":null,"abstract":"","PeriodicalId":149666,"journal":{"name":"Proceedings of SW21 The OR Society Simulation Workshop","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130713469","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Two-Stage Dual Threshold Agent-Based Model of Innovation Adoption","authors":"Arpan Jani","doi":"10.36819/sw20.026","DOIUrl":"https://doi.org/10.36819/sw20.026","url":null,"abstract":"","PeriodicalId":149666,"journal":{"name":"Proceedings of SW21 The OR Society Simulation Workshop","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127579202","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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