# Essentials of Stochastic Processes, Third Edition

Springer | Texts in Statistics | Dec 6. 2016 | ISBN-10: 331945613X | 275 Pages | PDF | 2.46 MB

Authors: Durrett, Richard

A concise treatment and textbook on the most important topics in Stochastic Processes

All concepts illustrated by examples and more than 300 carefully chosen exercises for effective learning

New edition includes added and revised exercises, including many biological exercises, in addition to restructured and rewritten sections with a goal toward clarity and simplicity

Solutions Manual available for instructors

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.

Number of Pages

IX, 275

Number of Illustrations and Tables

26 b/w illustrations

Topics

Statistical Theory and Methods

Probability Theory and Stochastic Processes

Statistics for Business, Economics, Mathematical Finance, Insurance

Operations Research, Mathematical Programming

Genetics and Population Dynamics

Economic Theory/Quantitative Economics/Mathematical Methods**Download:**

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