This introduction to Probability Theory can be used, at the beginning graduate level, for a one-semester course on Probability Theory or for self-direction without benefit of a formal course; the measure theory needed is developed in the text. It will also be useful for students and teachers in related areas such as Finance Theory (Economics), Electrical Engineering, and Operations Research. The text covers the essentials in a directed and lean way with 28 short chapters. Assuming of readers only an undergraduate background in mathematics, it brings them from a starting knowledge of the subject to a knowledge of the basics of Martingale Theory. After learning Probability Theory from this text, the interested student will be ready to continue with the study of more advanced topics, such as Brownian Motion and Ito Calculus, or Statistical Inference.

Review

"(The book is) a lean and largely self-contained introduction to the modern theory of probability, aimed at advanced undergraduate or beginning graduate students. The 28 short chapters belie the book's genesis as polished lecture notes; the exposition is sleek and rigorous and each chapter ends with a supporting collection of mainly routine exercises. ... The authors make it clear what luggage is required for this exhilarating trek,... a good knowledge of advanced calculus, some linear algebra, and some "mathematical sophistication". With this understood, the itinerary is immaculately paced and planned with just the right balances of technical ascents and pauses to admire the scenery. Within the constraints of a slim volume, it is hard to imagine how the authors could have done a more effective or more attractive job." The Mathematical Gazette, Vol. 84, No 500, 2000 "The authors provide the shortest path through the twenty-eight chapter headings. The topics are treated in a mathematically and pedagogically digestible way. The writing is concise and crisp: the average chapter length is about eight pages. ... Numerous exercises add to the value of the text as a teaching tool. In conclusion, this is an excellent text for the intended audience."
Short Book Reviews, Vol. 21, No. 2, 2001

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