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

Kód výsledku v IS VaVaI

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Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

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

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

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

Popis výsledku anglicky

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.

Druh

D - Stať ve sborníku

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

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Návaznosti

N - Vyzkumna aktivita podporovana z neverejnych zdroju

Rok uplatnění

2012

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

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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Počet stran výsledku

9

Strana od-do

153 - 161

Název nakladatele

RENDE

Místo vydání

Italy

Místo konání akce

Vienna

Datum konání akce

1. 1. 2012

Typ akce podle státní příslušnosti

EUR - Evropská akce

Kód UT WoS článku

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