We provide a generic Monte Carlo method to find the alternative of maximum expected utility in a decision analysis. We define an artificial distribution on the product space of alternatives and states ...

ABSTRACT There is randomness in both the applied loads and the strength of systems. Therefore, to account for the uncertainty, the safety of the system must be quantified using its reliability. Monte ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...