{"product_id":"introductory-stochastic-analysis-for-finance-and-insurance-hardback-9780471716426","title":"Introductory Stochastic Analysis for Finance and Insurance (Hardback) 9780471716426","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eIntroductory Stochastic Analysis for Finance and Insurance\u003c\/font\u003e\u003cbr\u003e\r\n\r\n\r\n\r\n\r\n\r\n\u003c\/p\u003e\n\u003cp\u003e\u003cfont size=\"4\"\u003eX. Sheldon Lin (Author),  (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9780471716426, Wiley\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eHardback, published 31 March 2006\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e248 pages, Tables: 0 B\u0026amp;W, 0 Color; Graphs: 23 B\u0026amp;W, 0 Color\u003cbr\u003e23.9 x 16.4 x 2.1 cm, 0.508 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cem\u003e\u003cfont size=\"3\"\u003e\"…a positive addition to the introductory textbooks on stochastic calculus for financial applications.\" (\u003ci\u003eJournal of the American Statistical Association\u003c\/i\u003e, June 2007)  \u003cp\u003e\"The actuarial topics discussed by the author are absolutely nonstandard and provide a strong point in favor of this book compared to its competitors…\" (\u003ci\u003eMathematical Reviews\u003c\/i\u003e, Issue 2007a)\u003c\/p\u003e \u003cp\u003e\"…very suitable for practitioners who just need to understand the main connections between some financial concepts and stochastic analysis.\" (\u003ci\u003eMAA Reviews\u003c\/i\u003e, April 30, 2006)\u003c\/p\u003e\u003c\/font\u003e\u003c\/em\u003e\u003c\/p\u003e\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003eIncorporates the many tools needed for modeling and pricing in finance and insurance\u003cbr\u003e \u003cbr\u003e Introductory Stochastic Analysis for Finance and Insurance introduces readers to the topics needed to master and use basic stochastic analysis techniques for mathematical finance. The author presents the theories of stochastic processes and stochastic calculus and provides the necessary tools for modeling and pricing in finance and insurance. Practical in focus, the book's emphasis is on application, intuition, and computation, rather than theory.\u003cbr\u003e \u003cbr\u003e Consequently, the text is of interest to graduate students, researchers, and practitioners interested in these areas. While the text is self-contained, an introductory course in probability theory is beneficial to prospective readers.\u003cbr\u003e \u003cbr\u003e This book evolved from the author's experience as an instructor and has been thoroughly classroom-tested. Following an introduction, the author sets forth the fundamental information and tools needed by researchers and practitioners working in the financial and insurance industries:\u003cbr\u003e * Overview of Probability Theory\u003cbr\u003e * Discrete-Time stochastic processes\u003cbr\u003e * Continuous-time stochastic processes\u003cbr\u003e * Stochastic calculus: basic topics\u003cbr\u003e \u003cbr\u003e The final two chapters, Stochastic Calculus: Advanced Topics and Applications in Insurance, are devoted to more advanced topics. Readers learn the Feynman-Kac formula, the Girsanov's theorem, and complex barrier hitting times distributions. Finally, readers discover how stochastic analysis and principles are applied in practice through two insurance examples: valuation of equity-linked annuities under a stochastic interest rate environment and calculation of reserves for universal life insurance.\u003cbr\u003e \u003cbr\u003e Throughout the text, figures and tables are used to help simplify complex theory and pro-cesses. An extensive bibliography opens up additional avenues of research to specialized topics.\u003cbr\u003e \u003cbr\u003e Ideal for upper-level undergraduate and graduate students, this text is recommended for one-semester courses in stochastic finance and calculus. It is also recommended as a study guide for professionals taking Causality Actuarial Society (CAS) and Society of Actuaries (SOA) actuarial examinations.\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eList of Figures.  \u003cp\u003eList of Tables.\u003c\/p\u003e \u003cp\u003ePreface.\u003c\/p\u003e \u003cp\u003e1. Introduction.\u003c\/p\u003e \u003cp\u003e2. Overview of Probability Theory.\u003c\/p\u003e \u003cp\u003e3. Discrete-Time Stochastic Processes.\u003c\/p\u003e \u003cp\u003e4. Continuous-Time Stochastic Processes.\u003c\/p\u003e \u003cp\u003e5. Stochastic Calculus: Basic Topics.\u003c\/p\u003e \u003cp\u003e6. Stochastic Calculus: Advanced Topics.\u003c\/p\u003e \u003cp\u003e7. Applications in Insurance.\u003c\/p\u003e \u003cp\u003eReferences.\u003c\/p\u003e \u003cp\u003eTopic Index.\u003c\/p\u003e\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Mathematics [\u003ca title=\"See our other books on Mathematics\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Mathematics%20%5BPB%5D%22\"\u003ePB\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Wiley-Interscience","offers":[{"title":"Brand New","offer_id":52298042409240,"sku":"9780471716426","price":102.19,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/files\/9780471716426.jpg?v=1781732205","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/introductory-stochastic-analysis-for-finance-and-insurance-hardback-9780471716426","provider":"Freshly Printed Books","version":"1.0","type":"link"}