Classical probability theory provides information about random walks after a fixed number of steps. For applications, however, it is more natural to consider random walks evaluated after a random number of steps. Examples are sequential analysis, queueing theory, storage and inventory theory, insurance risk theory, reliability theory, and the theory of counters. Stopped Random Walks: Limit Theorems and Applications shows how this theory can be used to prove limit theorems for renewal counting processes, first passage time processes, and certain two-dimensional random walks, and to how these results are useful in various applications.
This second edition offers updated content and an outlook on further results, extensions and generalizations. A new chapter examines nonlinear renewal processes in order to present the analagous theory for perturbed random walks, modeled as a random walk plus "noise".
| ISBN: | 9781441927736 |
| Publication date: | 15th December 2010 |
| Author: | Allan Gut |
| Publisher: | Springer an imprint of Springer New York |
| Format: | Paperback |
| Pagination: | 263 pages |
| Series: | Springer Series in Operations Research and Financial Engineering |
Classical probability theory provides information about random walks after a fixed number of steps. For applications, however, it is more natural to consider random walks evaluated after a random number of steps.
Paperback, Hardback. Not Available.
Stopped Random Walks was written by Allan Gut and published by Springer an imprint of Springer New York
Stopped Random Walks has 263 pages
Yes it is part of Springer Series in Operations Research and Financial Engineering series