A Review on ‘Probability and Stochastic Processes’

Bodo Herzog

doi:doi:10.11648/j.ajtas.20160501.14

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A Review on ‘Probability and Stochastic Processes’

Bodo Herzog

Published in American Journal of Theoretical and Applied Statistics (Volume 5, Issue 1)

Received: 17 January 2016 Accepted: 26 January 2016 Published: 16 February 2016

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Abstract

This paper is a commentary on the book ‘Probability and Stochastic Processes’ from Ionut Florescu. The book is an excellent introduction to both probability theory and stochastic processes. It provides a comprehensive discussion of the main statistical concepts including the theorems and proofs. The introduction to probability theory is easy accessible and a perfect starting point for undergraduate students even with majors in other subjects than science, such as business or engineering. The book is also up-to-date because it includes programming code for simulations. However, the book has some weaknesses. It is less convincing in more advanced topics of stochastic theory and it does not include solutions to excises and recent research trends.

Published in	American Journal of Theoretical and Applied Statistics (Volume 5, Issue 1)
DOI	10.11648/j.ajtas.20160501.14
Page(s)	23-26
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2016. Published by Science Publishing Group

Keywords

Probability Theory, Stochastic Processes, Simulation of Stochastic Processes

References

[1]	Florescu, I., Probability and Stochastic processes, John Wiley & Sons, 1 ed., 2015.
[2]	Yates, R. D. and Goodman, D. J., Probability and Stochastic Processes, John Wiley & Sons, 2004.
[3]	Yates, R. D. and Goodman, D. J., Probability and Stochastic Processes: A Friendly Introduction for Electrical and Computer Engineers, John Wiley & Sons, 2014.
[4]	Parzen, E., Stochastic Processes, Dover Publications, 2015.
[5]	Karatzas, I. and Shreve, S. E., Brownian Motion and Stochastic Calculus, Springer Press, 1998.
[6]	Baldeaux, J. and Platen, E., Functionals of Multidimensional Diffusions with Applications to Finance, Spring Press, 2013.
[7]	Yang, X., On the large deviation principle of generalized Brownian bridges, Journal of Mathematical Analysis and Applications, Vol. 430, No. 2, p. 845-856, 2015.
[8]	Guenther, M. and Juengel, A., Finanzderivate mit MATLAB, Mathematische Modellierung und numerische Simulation, Vieweg-Teubner Verlag, 2010.
[9]	Okstendal, B., Stochastic Differential Equations, Spring Press, 2003.
[10]	Holden et al., Stochastic Partial Differential Equations, Springer Press, 2010.

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APA Style

Bodo Herzog. (2016). A Review on ‘Probability and Stochastic Processes’. American Journal of Theoretical and Applied Statistics, 5(1), 23-26. https://doi.org/10.11648/j.ajtas.20160501.14

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ACS Style

Bodo Herzog. A Review on ‘Probability and Stochastic Processes’. Am. J. Theor. Appl. Stat. 2016, 5(1), 23-26. doi: 10.11648/j.ajtas.20160501.14

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AMA Style

Bodo Herzog. A Review on ‘Probability and Stochastic Processes’. Am J Theor Appl Stat. 2016;5(1):23-26. doi: 10.11648/j.ajtas.20160501.14

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@article{10.11648/j.ajtas.20160501.14,
  author = {Bodo Herzog},
  title = {A Review on ‘Probability and Stochastic Processes’},
  journal = {American Journal of Theoretical and Applied Statistics},
  volume = {5},
  number = {1},
  pages = {23-26},
  doi = {10.11648/j.ajtas.20160501.14},
  url = {https://doi.org/10.11648/j.ajtas.20160501.14},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ajtas.20160501.14},
  abstract = {This paper is a commentary on the book ‘Probability and Stochastic Processes’ from Ionut Florescu. The book is an excellent introduction to both probability theory and stochastic processes. It provides a comprehensive discussion of the main statistical concepts including the theorems and proofs. The introduction to probability theory is easy accessible and a perfect starting point for undergraduate students even with majors in other subjects than science, such as business or engineering. The book is also up-to-date because it includes programming code for simulations. However, the book has some weaknesses. It is less convincing in more advanced topics of stochastic theory and it does not include solutions to excises and recent research trends.},
 year = {2016}
}

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TY  - JOUR
T1  - A Review on ‘Probability and Stochastic Processes’
AU  - Bodo Herzog
Y1  - 2016/02/16
PY  - 2016
N1  - https://doi.org/10.11648/j.ajtas.20160501.14
DO  - 10.11648/j.ajtas.20160501.14
T2  - American Journal of Theoretical and Applied Statistics
JF  - American Journal of Theoretical and Applied Statistics
JO  - American Journal of Theoretical and Applied Statistics
SP  - 23
EP  - 26
PB  - Science Publishing Group
SN  - 2326-9006
UR  - https://doi.org/10.11648/j.ajtas.20160501.14
AB  - This paper is a commentary on the book ‘Probability and Stochastic Processes’ from Ionut Florescu. The book is an excellent introduction to both probability theory and stochastic processes. It provides a comprehensive discussion of the main statistical concepts including the theorems and proofs. The introduction to probability theory is easy accessible and a perfect starting point for undergraduate students even with majors in other subjects than science, such as business or engineering. The book is also up-to-date because it includes programming code for simulations. However, the book has some weaknesses. It is less convincing in more advanced topics of stochastic theory and it does not include solutions to excises and recent research trends.
VL  - 5
IS  - 1
ER  -

Copy | Download

Author Information

Bodo Herzog

Department of Economics, Reutlingen University, Reutlingen, Germany

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Plain Text BibTeX RIS

APA Style

Bodo Herzog. (2016). A Review on ‘Probability and Stochastic Processes’. American Journal of Theoretical and Applied Statistics, 5(1), 23-26. https://doi.org/10.11648/j.ajtas.20160501.14

Copy | Download

ACS Style

Bodo Herzog. A Review on ‘Probability and Stochastic Processes’. Am. J. Theor. Appl. Stat. 2016, 5(1), 23-26. doi: 10.11648/j.ajtas.20160501.14

Copy | Download

AMA Style

Bodo Herzog. A Review on ‘Probability and Stochastic Processes’. Am J Theor Appl Stat. 2016;5(1):23-26. doi: 10.11648/j.ajtas.20160501.14

Copy | Download

@article{10.11648/j.ajtas.20160501.14,
  author = {Bodo Herzog},
  title = {A Review on ‘Probability and Stochastic Processes’},
  journal = {American Journal of Theoretical and Applied Statistics},
  volume = {5},
  number = {1},
  pages = {23-26},
  doi = {10.11648/j.ajtas.20160501.14},
  url = {https://doi.org/10.11648/j.ajtas.20160501.14},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ajtas.20160501.14},
  abstract = {This paper is a commentary on the book ‘Probability and Stochastic Processes’ from Ionut Florescu. The book is an excellent introduction to both probability theory and stochastic processes. It provides a comprehensive discussion of the main statistical concepts including the theorems and proofs. The introduction to probability theory is easy accessible and a perfect starting point for undergraduate students even with majors in other subjects than science, such as business or engineering. The book is also up-to-date because it includes programming code for simulations. However, the book has some weaknesses. It is less convincing in more advanced topics of stochastic theory and it does not include solutions to excises and recent research trends.},
 year = {2016}
}

Copy | Download

TY  - JOUR
T1  - A Review on ‘Probability and Stochastic Processes’
AU  - Bodo Herzog
Y1  - 2016/02/16
PY  - 2016
N1  - https://doi.org/10.11648/j.ajtas.20160501.14
DO  - 10.11648/j.ajtas.20160501.14
T2  - American Journal of Theoretical and Applied Statistics
JF  - American Journal of Theoretical and Applied Statistics
JO  - American Journal of Theoretical and Applied Statistics
SP  - 23
EP  - 26
PB  - Science Publishing Group
SN  - 2326-9006
UR  - https://doi.org/10.11648/j.ajtas.20160501.14
AB  - This paper is a commentary on the book ‘Probability and Stochastic Processes’ from Ionut Florescu. The book is an excellent introduction to both probability theory and stochastic processes. It provides a comprehensive discussion of the main statistical concepts including the theorems and proofs. The introduction to probability theory is easy accessible and a perfect starting point for undergraduate students even with majors in other subjects than science, such as business or engineering. The book is also up-to-date because it includes programming code for simulations. However, the book has some weaknesses. It is less convincing in more advanced topics of stochastic theory and it does not include solutions to excises and recent research trends.
VL  - 5
IS  - 1
ER  -

Copy | Download