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Incorporating Explanatory Variables into Risk Simulation Models

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  • Michael Backus

    (Wells Fargo Glennallen)

Abstract

A handful of articles have already been written describing how Excel can be used to model financial uncertainty via Monte Carlo simulation. Unfortunately, to date the methods described have been useful only for education purposes. This article describes how to incorporate explanatory variables into ones models, giving Excel users the ability to model complex scenarios on a level comparable to programs designed specifically for simulation purposes such as @Risk and Crystal Ball. And best of all, it is extremely educational and a practical real world skill.

Suggested Citation

  • Michael Backus, 2005. "Incorporating Explanatory Variables into Risk Simulation Models," Computers in Higher Education Economics Review, Economics Network, University of Bristol, vol. 17(1), pages 14-16.
    • Handle: RePEc:che:chepap:v:17:y:2005:i:1:p:14-16
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    File URL: https://www.economicsnetwork.ac.uk/cheer/ch17/backus.htm
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