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What is Monte Carlo method, what are the alternatives and when you would choose to use it over it alternatives?

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I voted to close. As it stands, this question is far to basic given our sites intention for "professionals and traders working in investment banking, and academics involved in teaching and research". See the FAQ: quant.stackexchange.com/faq. If you think the scope of the site should be changed, then feel free to raise this on meta. – Shane Feb 10 '11 at 13:44
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Raised this on meta: meta.quant.stackexchange.com/questions/68/… – Shane Feb 10 '11 at 14:01

closed as off topic by Shane, Dirk Eddelbuettel, Joshua Ulrich, chrisaycock♦, vonjd Feb 10 '11 at 15:01

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1 Answer

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http://en.wikipedia.org/wiki/Monte_Carlo_methods_in_finance is more relevant to this question

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