<p>This textbook offers an approachable introduction to stochastic processes that explores the four pillars of random walk, branching processes, Brownian motion, and martingales. Building from simple examples, the authors focus on developing context and intuition before formalizing the theory of each topic. This inviting approach illuminates the key ideas and computations in the proofs, forming an ideal basis for further study.</p><p>Consisting of many short chapters, the book begins with a comprehensive account of the simple random walk in one dimension. From here, different paths may be chosen according to interest. Themes span Poisson processes, branching processes, the Kolmogorov¿Chentsov theorem, martingales, renewal theory, and Brownian motion. Special topics follow, showcasing a selection of important contemporary applications, including mathematical finance, optimal stopping, ruin theory, branching random walk, and equations of fluids. Engaging exercises accompany the theory th
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<div>This book offers a rigorous and self-contained presentation of stochastic integration and stochastic calculus within the general framework of continuous semimartingales. The main tools of stochastic calculus, including It¿¿s formula, the...
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<b>BROWNIAN MOTION CALCULUS</b><p><i>Brownian Motion Calculus</i> presents the basics of Stochastic Calculus with a focus on the valuation of financial derivatives. It is intended as an accessible introduction to the technical...
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In this fascinating book, mathematician Ed Beltrami takes a close enough look at randomness to make it mysteriously disappear. Those familiar with quantum indeterminacy assert that order is an illusion, and that the world is fundamentally random.
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One of the "few great investment books" (Andrew Tobias) ever written, with two million copies in print
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