Monte Carlo Simulation of Effective Coordination Mechanisms for e-Commerce
Δαμιανός Π. Σακάς, Dimitrios S. Vlachos, Theodore E. Simos, Theodore E. Simos, George Psihoyios · AIP conference proceedings · 2008
Making decisions in a dynamic environment is considered extremely important in today’s market. Decision trees which can be used to model these systems, are not easily constructed and solved, especially in the case of infinite sets of consequences (for example, consider the case where only the mean and the variance of an outcome is known). In this work, discrete approximation and Monte Carlo techniques are used to overcome the aforementioned difficulties.