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When to use Monte-Carlo?

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Joined
6/11/10
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In terms of European Option, worse than an expectation numerical integral.

In terms of Path-dependent exotic, looks good but with too little sample problem.

In terms of American Option, already other methods.

When is the application of MC better than other approaches?
 
Well, given that Fubini's theorem doesn't apply and the dimension is greater than 3. Then I know of no other numerical integration technique apart from Monte Carlo that works well. The higher the dimension, the more favourable MC will be.
 
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