English, Article edition: Role of Random Numbers in Simulations of Economic Processes Dominika Crnjac Milic; Ljiljanka Kvesic

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Bookmark: http://trove.nla.gov.au/version/17377
Physical Description
  • article
Language
  • English

Edition details

Title
  • Role of Random Numbers in Simulations of Economic Processes
Author
  • Dominika Crnjac Milic
  • Ljiljanka Kvesic
Physical Description
  • article
Notes
  • Various ways of selecting random numbers used in process simulations will be presented in this paper. Special attention will be given to complex phenomena not known enough to be precisely described. Modes of interaction are unknown; what is known are probabilities of interaction outcome. Such cases are found mostly in social and economic phenomena, such as population growth, economic predictions, decision-making risk analysis, etc.
  • random numbers, simulation, process, distribution, model.
  • RePEc:osi:journl:v:4:y:2008:p:562-570
Language
  • English
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