Kleijnen, Jack P.C.; Ridder, A.A.N.; Rubinstein, R.Y. - Tilburg University, Center for Economic Research - 2010
Monte Carlo methods are simulation algorithms to estimate a numerical quantity in a statistical model of a real system … stimulated simulation analysts to develop ever more realistic models, so that the net result has not been faster execution of … simulation experiments; e.g., some modern simulation models need hours or days for a single ’run’ (one replication of one …