Monte Carlo method

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Related to Monte Carlo sampling: Monte Carlo simulation

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 ?
The problem with Monte Carlo sampling is that if the probability of failure is a small value, a large number of samples are needed in order to predict this accurately, causing a sharp increase in required cost and time.
Our analysis of share price reactions uses Monte Carlo sampling procedures to assess the statistical significance of each firm's abnormal returns around its inversion announcement date.
The approach that my colleagues Mary Kuhner, Jon Yamato, Peter Beerli, and I have taken (3) is to use Markov Chain Monte Carlo sampling, where one starts with a tree and modifies it randomly, using an acceptance-rejection method (the Metropolis-Hastings method) to wander among possible trees.
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