Quasi Random Sequence

A quasi-random sequence (also called a low discrepancy sequence) is a sequence pf representative samples from a probability distribution. Descriptions of the use of quasi-random sequences can be found in Brotherton-Ratcliffe (1994). Quasi-random sampling is similar to stratified sampling. The objective is to sample representative values for the underlying variables. In stratified sampling it is assumed that we know in advance how many samples will be taken. A quasi-random sampling scheme is more flexible. The samples are taken in such a way that we are always ‘‘filling in’’ gaps between existing samples. At each stage of the simulation the points sampled are roughly evenly spaced throughout the probability space. [See Stratified sampling]