The increasing frequency and severity of weather events attributable to climate change are affecting all corners of the economy. This issue of The Journal of Risk opens with a paper analyzing their ...

Many of the Monte Carlo methods and practices used to be referred to as rather generic "statistical sampling." Monte Carlo, of course, is a historical reference to the famous casino in Monaco.

The Monte Carlo model is a computational method using random sampling to simulate price projections and assess risk. It can generate multiple possible scenarios based on variable factors such as ...