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Basic Stochastic Processes : A Course Through Exercises by Zdzislaw Brzezniak, Tomasz Zastawniak is a nonfiction available to read on EtoBox.

What is Basic Stochastic Processes : A Course Through Exercises about?

Well motivated; well explained; easy to understand! A great read; and still offering readers getting a deeper understanding! There are a number of reasons for this book: An understandable presentation of tools from probability and stochastic processes is especially timely. With clear explanations, and with lots of examples and illustrations!A useful first book, before turning to more specialized presentations!While the subject has a long history and a multitude of applications, there is more recent buzz: It has been suggested that the recent turmoil in financial markets may be caused in part by poor understanding on the part of traders of the mathematical models for derivative trading.The mathematical tools are widely used, but probably a lot less widely understood!A bit of history: Stochastic processes is a theory started more than a hundred years ago (1900, Louis Bachlier, a Paris-PhD thesis under Poincare), then Albert Einstein's 1905 discovery of Brownian motion, Norbert Wiener's path-space integral (the 1920ties), K. Ito's integral & formula (the 1940ties) and Paul Samuelson-Merton-Black-Scholes 1974, a stochastic differential equation for option pricing: All mathematical tool

Who reads Basic Stochastic Processes : A Course Through Exercises?

Author

Zdzislaw Brzezniak, Tomasz Zastawniak

Publisher

Springer London : Imprint : Springer

Published

2002

Language

EN

ISBN

9781447105978

Category

nonfiction

Subjects

Engineering, Mathematics, Science