Abstract
Simulations, especially Monte Carlo simulations, are a common tool in operations research. They enable the study of complex scenarios, evaluation of costeffectiveness, risk mitigation, and efficient testing of improbable situations. Monte Carlo simulations facilitate decision-making by creating realistic experimental models for various operations research purposes.
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Wachholz, A., Malzew, R. (2024). Simulation Processes in Business and Economics: Fundamentals of the Monte Carlo Simulation. In: Peren, F.W., Neifer, T. (eds) Operations Research and Management. Springer Texts in Business and Economics. Springer, Cham. https://doi.org/10.1007/978-3-031-47206-0_8
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DOI: https://doi.org/10.1007/978-3-031-47206-0_8
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