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Simulating the maximum of a random walk

Authors :
Katherine B. Ensor
Peter W. Glynn
Source :
Journal of Statistical Planning and Inference. 85:127-135
Publication Year :
2000
Publisher :
Elsevier BV, 2000.

Abstract

In this paper, we show how to exactly sample from the distribution of the maximum of a random walk with negative drift. We also explore related variance reduction methods.

Details

ISSN :
03783758
Volume :
85
Database :
OpenAIRE
Journal :
Journal of Statistical Planning and Inference
Accession number :
edsair.doi...........f816fbbc0e005067553e4c69f32f3b51
Full Text :
https://doi.org/10.1016/s0378-3758(99)00075-0