Implementation of Monte-Carlo Method in Curriculum Efficiency, Cost Forecasting and Price Path Prediction

Qixuan Hu ()
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Qixuan Hu: University College London, Department of Mathematics

A chapter in Proceedings of the 9th International Conference on Financial Innovation and Economic Development (ICFIED 2024), 2024, pp 352-358 from Springer

Abstract: Abstract As a matter of fact, Monte-Carlo method has been widely implemented in various fields including distribution issues and stochastic process in recent years. With this in mind, this study mainly focuses the utilization of Monte-Carlo simulation onto some real-life scenarios. In retrospect, the Monte-Carlo simulation is a program-based algorithm which compute the possible outcome when the analysts input the samples. In general, it is used to give a portrait of the future for risk management in many fields. According to the analysis, the mechanics of using Monte-Carlo in some different cases is explained, analyzed and compared to judge the efficiency of using different distributions for an estimation. Moreover, some limits of using those are suggested and appealed for solutions to modify and improve the algorithm tool for future research. Overall, these results shed light on guiding further exploration of applications for Monte-Carlo simulation based on state-of-art techniques as well as broadening the implementation situations.

Keywords: Monte-Carlo method; computer science; statistics; finance (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-408-2_40

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DOI: 10.2991/978-94-6463-408-2_40

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