All news by: Dr Steven Firer and Brandon Thompson Monte Carlo Simulations and How They Work 1 March 2023 Dr Steven Firer and Brandon Thompson 0 comments The Monte Carlo Method was invented in the 1940’s by John von Neumann and Stanislaw Ulam during World War II to improve decision making under uncertain conditions. It was named after a well-known casino town, called Monaco, since the element of chance is core to the modeling approach, similar to a game of roulette. In this article, Dr. Steven Firer and Brandon Thompson explore the practical application of the Monte Carlo Simulation and how it is applicable to the valuing of options. Read more
Monte Carlo Simulations and How They Work 1 March 2023 Dr Steven Firer and Brandon Thompson 0 comments The Monte Carlo Method was invented in the 1940’s by John von Neumann and Stanislaw Ulam during World War II to improve decision making under uncertain conditions. It was named after a well-known casino town, called Monaco, since the element of chance is core to the modeling approach, similar to a game of roulette. In this article, Dr. Steven Firer and Brandon Thompson explore the practical application of the Monte Carlo Simulation and how it is applicable to the valuing of options. Read more