The Monte Carlo simulation technique, named for the famous Monaco gambling resort, originated during World War II as a way to model potential outcomes from a random chain of events. It is particularly ...

Over the past decade, a substantial literature on methods for the estimation of discrete choice dynamic programming (DDP) models of behavior has developed. However, the implementation of these methods ...

Monte Carlo simulation has been used to value options since Boyle's seminal paper. Monte Carlo simulation, however, has not been used to its fullest extent for option valuation because of the belief ...

The Inverse Sampling Method can expand the capability of tools, such as Excel and Spice, into performing user-defined statistical simulations. Not all Spice versions perform Monte Carlo simulations.