A recent report, “Risky Business: The Economic Risks of Climate Change in the United States,” co-chaired by Michael R. Bloomberg, Henry Paulson and Tom Steyer, suggests that “by 2050 between $66 ...

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This paper discusses a value-at-risk (VaR) time-scaling approach based on fitting a distribution function so as to apply a Monte Carlo simulation to determine long-term VaR. The paper uses composite ...

This article attempts to adapt the Monte Carlo method to the quantitative risk management of environmental pollution. In this context, the feasibility of stochastic models to quantitatively evaluate ...

Important events sometimes occur with too little notice. Occasionally, even a monumental development can escape adequate attention. An example of this occurred on Jan. 9. That day saw a historic ...

A Monte Carlo simulation in investing is like rolling the dice on potential outcomes for your investments. Instead of relying on past performance or gut feelings, Monte Carlo simulations use computer ...

This is a preview. Log in through your library . Abstract Suppose a large economy with individual risk is modeled by a continuum of pairwise exchangeable random variables (i.i.d., in particular). Then ...