Monte Carlo method

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Monte Carlo method

a computer trial or study which uses random numbers in the simulation and analysis of complex relationships and events.
References in periodicals archive ?
For example, most product developers and even some finance professionals remain unfamiliar with the Monte Carlo simulation techniques despite their having been used in physics and chemistry for quite a while.
The latest version performs risk analysis on a spreadsheet using Monte Carlo simulation techniques.
Stochastic Simulation and Applications in Finance with MATLAB Programs explains the fundamentals of Monte Carlo simulation techniques, their use in the numerical resolution of stochastic differential equations and their current applications in finance.
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