Stopped Random Walks: Limit Theorems and Applications (Springer Series in Operations Research and Financial Engineering)

Gut, Allan

ISBN 10: 0387878343 / ISBN 13: 9780387878348

Published by Springer, 2009

About this Item

Seller Inventory # E-9780387878348-2-2

Bibliographic Details

• Title: Stopped Random Walks: Limit Theorems and Applications (Springer Series in Operations Research and Financial Engineering)
• Publisher: Springer
• Publication Date: 2009
• Language: English
• ISBN 10: 0387878343
• ISBN 13: 9780387878348
• Binding: Hardcover
• Edition: 2nd Edition
• Condition: Very good

About this title

Synopsis

Classical probability theory provides information about random walks after a fixed number of steps. For applications, however, it is more natural to consider random walks evaluated after a random number of steps. Examples are sequential analysis, queueing theory, storage and inventory theory, insurance risk theory, reliability theory, and the theory of counters. Stopped Random Walks: Limit Theorems and Applications shows how this theory can be used to prove limit theorems for renewal counting processes, first passage time processes, and certain two-dimensional random walks, and to how these results are useful in various applications.

This second edition offers updated content and an outlook on further results, extensions and generalizations. A new chapter examines nonlinear renewal processes in order to present the analagous theory for perturbed random walks, modeled as a random walk plus “noise”.

About the Author

Dr. Allan Gut is a professor of mathematical statistics at Uppsala University in Sweden. He has published many numerous articles, and has authored and co-authored six books, four of which were published by Springer. Three of those books, including the first edition of this book, have sold out, and Probability: A Graduate Course, published in 2005, is selling well.