Why the Monte Carlo method is so important today

@inproceedings{Kroese2014WhyTM,
  title={Why the Monte Carlo method is so important today},
  author={Dirk P. Kroese and Tim J. Brereton and Thomas Taimre and Zdravko I. Botev},
  year={2014}
}
  • Dirk P. Kroese, Tim J. Brereton, +1 author Zdravko I. Botev
  • Published 2014
  • Computer Science
  • Since the beginning of electronic computing, people have been interested in carrying out random experiments on a computer. Such Monte Carlo techniques are now an essential ingredient in many quantitative investigations. Why is the Monte Carlo method MCM so important today? This article explores the reasons why the MCM has evolved from a 'last resort' solution to a leading methodology that permeates much of contemporary science, finance, and engineering. WIREs Comput Stat 2014, 6:386-392. doi… CONTINUE READING

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