This textbook, now in its fourth edition, offers a rigorous and self-contained introduction to the theory of continuous-time stochastic processes, stochastic integrals, and stochastic differential equations. Expertly balancing theory and applications, it features concrete examples of modeling real-world problems from biology, medicine, finance, and insurance using stochastic methods. No previous knowledge of stochastic processes is required. Unlike other books on stochastic methods that specialize in a specific field of applications, this volume examines the ways in which similar stochastic methods can be applied across diﬀerent ﬁelds.

Beginning with the fundamentals of probability, the authors go on to introduce the theory of stochastic processes, the It� Integral, and stochastic differential equations. The following chapters then explore stability, stationarity, and ergodicity. The second half of the book is dedicated to applications to a variety of fields, including finance, biology, and medicine. Some highlights of this fourth edition include a more rigorous introduction to Gaussian white noise, additional material on the stability of stochastic semigroups used in models of population dynamics and epidemic systems, and the expansion of methods of analysis of one-dimensional stochastic diﬀerential equations.

An Introduction to Continuous-Time Stochastic Processes, Fourth Edition is intended for graduate students taking an introductory course on stochastic processes, applied probability, stochastic calculus, mathematical finance, or mathematical biology. Prerequisites include knowledge of calculus and some analysis; exposure to probability would be helpful but not required since the necessary fundamentals of measure and integration are provided. Researchers and practitioners in mathematical finance, biomathematics, biotechnology, and engineering will also find this volume to be of interest, particularlythe applications explored in the second half of the book.

About the Author

Vincenzo Capasso is a Professor of Probability and Mathematical Statistics at the University of Milan, an elected member of the International Statistics Institute, a Fellow of The Institute of Mathematics and its Applications - UK, Past President of ECMI (the European Consortium for Mathematics in Industry), and Past President of ESMTB (European Society for Mathematical and Theoretical Biology).

David Bakstein has been working in the financial industry for close to 25 years, many of those dedicated to applied mathematical models. He originally studied and taught at both the LSE and University of Oxford (OCIAM & Lady Margaret Hall).

"About this title" may belong to another edition of this title.

Store Description

Professional Book Seller offering fast shipping and hassle-free returns for every order. Our 100% satisfaction policy guarantees that you get the best product and the best service at the best price!

Visit Seller's Storefront

Seller's business information

Basi6 International LLC
1018 Camino Lago, Irving, TX, 75039, U.S.A.

Sale & Shipping Terms

Terms of Sale

Professional Book Seller shipping from Multiple Locations Worldwide for fastest delivery possible!

If you are a consumer you can cancel the contract in accordance with the following. Consumer means any natural person who is acting for purposes which are outside his trade, business, craft or profession.

INFORMATION REGARDING THE RIGHT OF CANCELLATION

Statutory Right to cancel

You have the right to cancel this contract within 14 days without giving any reason.

The cancellation period will expire af...

More Information

Shipping Terms

All orders shipped via FedEx or DHL and delivered to your doorstep within 3-5 days. We do not ship to P.O.Boxes and a proper street address must be provided to avoid any delays.