Application of random processes

Author: Zhang Bo
Publisher:
Publish Date: 2002-01-01
Features: The book can be divided into three parts. Part (1), II, III, and V are preliminary knowledge and basic content of random processes, which are generally included in most textbooks; the second part is renewal processes. This content is not discussed separately in many textbooks. Considering its importance in applications, especially in demography and actuarial science, it is taught in Chapter 4; the rest forms the third part. Given the application needs in economics and finance, it introduces martingales, Brownian motion, and stochastic integrals, along with their applications.