what are the main drawbacks of using monté carlo methods ?

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- Jun 3rd 2010, 12:26 PMcinelias80disadvantages , drawbacks of monté carlo methods
what are the main drawbacks of using monté carlo methods ?

- Jun 3rd 2010, 12:31 PMundefined
I've never seen the accent on the "e" like that before. I thought it was from Italian and doesn't have an accent? Not too sure.

Anyway I would say the main disadvantage is that it could take a prohibitively long time to get an answer to required precision; for example, getting 5 decimal places (with, say, 99% confidence) might a quadrillion trials depending on what you're dealing with. - Jun 3rd 2010, 02:27 PMMoo
Monte-Carlo indeed is Italian. And there's indeed no accent.

French deformation :D

Yeah, the main problem is the precision. To get a 10 times better precision, you have to make 100 times more simulations, and that can be quite a lot... (because the central limit theorem gives a convergence speed in $\displaystyle \frac{1}{\sqrt{n}}$)