This book has exerted a continuing appeal since its original
publication in 1970. It develops the theory of probability from
axioms on the expectation functional rather than on probability
measure, demonstrates that the standard theory unrolls more
naturally and economically this way, and that applications of real
interest can be addressed almost immediately. A secondary aim of
the original text was to introduce fresh examples and convincing
applications, and that aim is continued in this edition, a general
revision plus the addition of chapters giving an economical
introduction to dynamic programming, that is then applied to the
allocation problems represented by portfolio selection and the
multi-armed bandit. The investment theme is continued with a
critical investigation of the concept of risk-free'trading and the
associated Black-Sholes formula, while another new chapter develops
the basic ideas of large deviations. The book may be seen as an
introduction to probability for students with a basic mathematical
facility, covering the standard material, but different in that it
is unified by its theme and covers an unusual range of modern
applications.
General
| Imprint: |
Springer-Verlag New York
|
| Country of origin: |
United States |
| Series: |
Springer Texts in Statistics |
| Release date: |
September 2012 |
| First published: |
2000 |
| Authors: |
Peter Whittle
|
| Dimensions: |
235 x 155 x 27mm (L x W x T) |
| Format: |
Paperback
|
| Pages: |
353 |
| Edition: |
4th ed. 2000. Softcover reprint of the original 4th ed. 2000 |
| ISBN-13: |
978-1-4612-6795-9 |
| Categories: |
Books >
Science & Mathematics >
Mathematics >
Probability & statistics
Promotions
|
| LSN: |
1-4612-6795-1 |
| Barcode: |
9781461267959 |
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