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Essentials of Stochastic Processes (Springe... 9783319833316 by Durrett, Richard

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Book Title
Essentials of Stochastic Processes (Springer Texts in Statisti...
ISBN
9783319833316

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Product Identifiers

Publisher
Springer International Publishing A&G
ISBN-10
3319833316
ISBN-13
9783319833316
eBay Product ID (ePID)
28038554964

Product Key Features

Number of Pages
IX, 275 Pages
Publication Name
Essentials of Stochastic Processes
Language
English
Publication Year
2018
Subject
Probability & Statistics / General, Operations Research, Statistics
Type
Textbook
Author
Richard Durrett
Subject Area
Mathematics, Business & Economics
Series
Springer Texts in Statistics Ser.
Format
Trade Paperback

Dimensions

Item Height
0.6 in
Item Weight
155 Oz
Item Length
9.2 in
Item Width
6.1 in

Additional Product Features

Edition Number
3
Intended Audience
Trade
Reviews
"This is the third edition of a popular textbook on stochastic processes. It is intended for advanced undergraduates and beginning graduate students and aimed at an intermediate level between an undergraduate course in probability and the first graduate course that uses measure theory." (William J. Satzer, MAA Reviews, maa.org, February, 2017), "It is the 3rd edition of the textbook devoted to initial information and basic topics from the theory of stochastic processes. ... The book is very useful for anyone who is interested in probability theory and its ramifications and applications. It can be recommended both for students and postgraduates, teachers and practitioners. ... The book contains a lot of examples which contribute to a better understanding of the text." (Yuliya S. Mishura, zbMATH 1378.60001, 2018) "This is the third edition of a popular textbook on stochastic processes. It is intended for advanced undergraduates and beginning graduate students and aimed at an intermediate level between an undergraduate course in probability and the first graduate course that uses measure theory." (William J. Satzer, MAA Reviews, maa.org, February, 2017)
Dewey Edition
22
Number of Volumes
1 vol.
Illustrated
Yes
Dewey Decimal
519.2
Table Of Content
1) Markov Chains.- 2) Poisson Processes.- 3) Renewal Processes.- 4) Continuous Time Markov Chains.- 5) Martingales.- 6) Mathematical Finance.- 7) A Review of Probability.
Synopsis
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., This test is designed for a Master's Level course in stochastic processes. It features the introduction and use of martingales, which allow one to do much more with Brownian motion, e.g., option pricing, and queueing theory is integrated into the Continuous Time Markov Chain and Renewal Theory chapters as examples., In its revised new edition, this book covers Markov chains in discrete and continuous time, Poisson processes, renewal processes, martingales and mathematical finance. Offers many examples and more than 300 carefully chosen exercises for better understanding.
LC Classification Number
QA276-280

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