Applied Stochastic Models and Control for Finance and Insurance

Released on by Charles S. Tapiero
preview-18

  • Applied Stochastic Models and Control for Finance and Insurance Book Detail

  • Author : Charles S. Tapiero
  • Release Date : 2012-12-06
  • Publisher : Springer Science & Business Media
  • Genre : Business & Economics
  • Pages : 352
  • ISBN 13 : 1461558239
  • File Size : 87,87 MB
DOWNLOAD BOOK

Applied Stochastic Models and Control for Finance and Insurance by Charles S. Tapiero PDF Summary

Book Description: Applied Stochastic Models and Control for Finance and Insurance presents at an introductory level some essential stochastic models applied in economics, finance and insurance. Markov chains, random walks, stochastic differential equations and other stochastic processes are used throughout the book and systematically applied to economic and financial applications. In addition, a dynamic programming framework is used to deal with some basic optimization problems. The book begins by introducing problems of economics, finance and insurance which involve time, uncertainty and risk. A number of cases are treated in detail, spanning risk management, volatility, memory, the time structure of preferences, interest rates and yields, etc. The second and third chapters provide an introduction to stochastic models and their application. Stochastic differential equations and stochastic calculus are presented in an intuitive manner, and numerous applications and exercises are used to facilitate their understanding and their use in Chapter 3. A number of other processes which are increasingly used in finance and insurance are introduced in Chapter 4. In the fifth chapter, ARCH and GARCH models are presented and their application to modeling volatility is emphasized. An outline of decision-making procedures is presented in Chapter 6. Furthermore, we also introduce the essentials of stochastic dynamic programming and control, and provide first steps for the student who seeks to apply these techniques. Finally, in Chapter 7, numerical techniques and approximations to stochastic processes are examined. This book can be used in business, economics, financial engineering and decision sciences schools for second year Master's students, as well as in a number of courses widely given in departments of statistics, systems and decision sciences.

Disclaimer: www.yourbookbest.com does not own Applied Stochastic Models and Control for Finance and Insurance books pdf, neither created or scanned. We just provide the link that is already available on the internet, public domain and in Google Drive. If any way it violates the law or has any issues, then kindly mail us via contact us page to request the removal of the link.

Engineering Risk and Finance

Engineering Risk and Finance

File Size : 84,84 MB
Total View : 9050 Views
DOWNLOAD

Risk models are models of uncertainty, engineered for some purposes. They are “educated guesses and hypotheses” assessed and valued in terms of well-defined