Applied Stochastic Models and Control for Finance and Insurance

Applied Shastic Models and Control for Finance and Insurance presents at an introductory level some essential shastic models applied in economics, finance and insurance. Markov chains, random walks, shastic differential equations and other shastic 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 ...