Monte Carlo simulation - the bank account selection in the Czech Republic according to the bank charges

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F71226401%3A_____%2F12%3A%230000022" target="_blank" >RIV/71226401:_____/12:#0000022 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Monte Carlo simulation - the bank account selection in the Czech Republic according to the bank charges
Original language description
Simulation methods belong to the suitable instruments that can be used in the real world situations to better understand the reality or to make a responsible decision. Monte Carlo simulation is a method for iteratively evaluating a deterministic model using sets of random numbers as inputs. This method is often used when the model is complex, nonlinear, or involves more than just a couple of uncertain parameters. As in the Czech Republic the situation with the selection of the appropriate bank account is complicated (because of the non-transparent bank charges), we have created a simulation model to find the best account for 3 different types of retail clients. We compare our results with the solution obtained from MS Excel, Crystal Ball and the multi-criteria evaluation of alternatives model.
Czech name
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Czech description
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Publication year
2012
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
Proceedings of the International Conference on Modeling and Applied Simulation
ISBN
978-88-97999-10-2
ISSN
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e-ISSN
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Number of pages
9
Pages from-to
153 - 161
Publisher name
RENDE
Place of publication
Italy
Event location
Vienna
Event date
Jan 1, 2012
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
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