We consider the problem of estimating 𝔼[f(U1, …, Ud)], where (U1, …, Ud) denotes a random vector with uniformly distributed marginals. In general, Latin hypercube sampling (LHS) is a powerful tool for solving this kind of high-dimensional numerical integration problem. In the case of...

Comparison with a standard is a general multiple comparison problem, where each system is required to be compared to a single system, referred to as a “standard”, as well as to other alternative systems. The goal is to determine the best system among a number of systems that are better than...

Simulation estimators, such as indirect inference or simulated maximum likelihood, are successfully employed for estimating models where the likelihood function does not have a simple analytical expression. They adjust for the bias (inconsistency) produced by the estimation of an auxiliary model...