Stochastic Economic Dynamics: A Complete Treatise on Probability, Stochastic Processes, and Their Applications to Economic Theory

Montgomery, Richard Murdoch

ISBN 13: 9798257698651

Published by Independently published, 2026

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Seller Inventory # I-9798257698651

Bibliographic Details

• Title: Stochastic Economic Dynamics: A Complete Treatise on Probability, Stochastic Processes, and Their Applications to Economic Theory
• Publisher: Independently published
• Publication Date: 2026
• Language: English
• ISBN 13: 9798257698651
• Binding: Soft cover
• Condition: New

About this title

Synopsis

Stochastic Economic Dynamics is a comprehensive work spanning forty-five chapters and more than thirteen hundred pages, in which the entire edifice of economic theory is reconstructed upon stochastic principles. Beginning with a critical history of economic thought, the work proceeds through measure-theoretic probability, stochastic differential equations, Ito calculus, martingale theory and optimal control, before turning to the microstructure of markets, the dynamics of growth and fluctuation, the mathematics of risk and ruin, and the computational methods that render these ideas operational. What distinguishes this treatise is its insistence that randomness is not a nuisance to be averaged away but the very fabric from which economic reality is woven. This is a work for the reader who demands both mathematical precision and intellectual depth: the graduate student seeking a unified treatment, the researcher pursuing new directions, and the practitioner who wishes to understand the stochastic machinery beneath the models they deploy.