Selecting the Number of Replications in a Simulation Study

Ignacio Dmaz-Emparanza
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Ignacio Dmaz-Emparanza: Universidad del Pams Vasco
Authors registered in the RePEc Author Service: Ignacio Díaz-Emparanza ()

Econometrics from EconWPA

Abstract: In order to approach a distribution by means of simulation it is necessary to determine a number of replications. The accuracy with which the distribution is calculated will rely on this number of replications. In this work, a relationship between the number of replications and the accuracy of the estimate is obtained, so that if it is wanted to get a prefixed value for the accuracy it is possible to determine which will be the minimum number of replications necessary for it.

Keywords: Number of replications; Monte-Carlo; accuracy; binomial distribution. (search for similar items in EconPapers)
JEL-codes: C1 (search for similar items in EconPapers)
Date: 1996-12-17
Note: Type of Document - PostScript; prepared on IBM PC ; to print on PostScript; pages: 13 ; figures: included. None.
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Persistent link: http://EconPapers.repec.org/RePEc:wpa:wuwpem:9612006

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