NEWS & MEDIA

NEWS

Monte Carlo Simulations

Mr. Amar Shuja, Teaching Fellow/ Research fellow, Innovation and Technology Centre (ITC), Lahore School of Economics conducted a brief session/ workshop on "Monte Carlo Simulation" on December 11, 2017. This workshop was conducted in the Economics Faculty Development Workshop, Winter Term 2017.

Monte Carlo simulation performs risk analysis by building models of possible results by substituting a range of values-a probability distribution-for any factor that has inherent uncertainty. It then calculates results over and over, each time using a different set of random values from the probability functions.