Selecting the Number of Replications in a Simulation Study

descriptionPublicationkeyboard_double_arrow_right Article , Other literature type , Preprint 01 Jan 1997 English Publisher:Elsevier BVJournal:SSRN Electronic Journal (eissn: 1556-5068,

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Authors: Ignacio Dmaz-Emparanza;

doi: 10.2139/ssrn.1582

Selecting the Number of Replications in a Simulation Study

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Abstract

In order to approach a distribution by means of simulation it is necessary to determine a number of replications. The accuracy with which the distribution is calculated will rely on this number of replications. In this work, a relationship between the number of replications and the accuracy of the estimate is obtained, so that if it is wanted to get a prefixed value for the accuracy it is possible to determine which will be the minimum number of replications necessary for it.

Related Organizations

University of the Basque Country
Spain

Keywords

Number of replications, Monte-Carlo, accuracy, binomial distribution., jel: jel:C1

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