Range of Application of the Monte Carlo Method to Economic Load-Distribution Problems.

An attempt is made to show that the Monte Carlo method for the solution of long-term problems is suitable for economic load distribution. Although compared with the dynamic programming in a presently used method, the Monte Carlo method, it is true, often requires a longer calculation time, but it has the advantage that the storage space required is considerably less, and at the same time the programming in case of model changes can be kept relatively small. The Simplex procedure, used in the past, is inferior to the Monte Carlo method only from the point of view of programming effort, but is otherwise of equal value for long-term problems.