From the course: Advanced and Specialized Statistics with Stata
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Monte Carlo simulation - Stata Tutorial
From the course: Advanced and Specialized Statistics with Stata
Monte Carlo simulation
- [Instructor] In this session we're going to learn how to perform Monte Carlo Simulation. So far we've used simulation techniques only in one shot examples. In other words, we generated random numbers to explore how specific data structures affected our estimates, but we never repeated this. Because our numbers were random we might've gotten a bad set of numbers and therefore misinterpreted our results. Monte Carlo simulations is a method that can repeatedly and quickly call random numbers and random variables many hundreds or thousands of times. This helps avoid the mistakes of relying on only one set of random numbers. Monte Carlo simulations is what professionals use to test their estimators and their data structures. We're introducing two new Stata commands in this session. Both of them are related to serious programing Stata. However, we'll try to keep it as simple as possible. The first command is the program…
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