Essentials of Stochastic Processes (Hardcover, 3rd ed. 2016)

Building upon the previous editions, this textbook is a first course in stochastic processes taken by undergraduate and graduate students (MS and PhD students from math, statistics, economics, computer science, engineering, and finance departments) who have had a course in probability theory. It covers Markov chains in discrete and continuous time, Poisson processes, renewal processes, martingales, and option pricing. One can only learn a subject by seeing it in action, so there are a large number of examples and more than 300 carefully chosen exercises to deepen the reader's understanding. Drawing from teaching experience and student feedback, there are many new examples and problems with solutions that use TI-83 to eliminate the tedious details of solving linear equations by hand, and the collection of exercises is much improved, with many more biological examples. Originally included in previous editions, material too advanced for this first course in stochastic processes has been eliminated while treatment of other topics useful for applications has been expanded. In addition, the ordering of topics has been improved; for example, the difficult subject of martingales is delayed until its usefulness can be applied in the treatment of mathematical finance.

General

Imprint:	Springer International Publishing AG
Country of origin:	Switzerland
Series:	Springer Texts in Statistics
Release date:	November 2016
First published:	2016
Authors:	Richard Durrett
Dimensions:	235 x 155 x 22mm (L x W x T)
Format:	Hardcover
Pages:	275
Edition:	3rd ed. 2016
ISBN-13:	978-3-319-45613-3
Categories:	Books > Business & Economics > Economics > Economic theory & philosophy Books > Science & Mathematics > Mathematics > Probability & statistics Books > Business & Economics > Business & management > Management & management techniques > Operational research Books > Science & Mathematics > Mathematics > Applied mathematics > General Promotions
LSN:	3-319-45613-X
Barcode:	9783319456133

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