Abstract
This chapter was a very brief introduction to the basic concepts of the stochastic processes including the definition of a stochastic process, a discrete-time and continuous-time stochastic process, state space, i.i.d. stochastic process, stopping time, and the hitting time of a process to a state. Some typical examples and problems including the daily stock prices of a company, and the evolution of the population of a country have been provided to clarify the basic concepts.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Author information
Authors and Affiliations
Corresponding author
Rights and permissions
Copyright information
© 2019 Springer Nature Switzerland AG
About this chapter
Cite this chapter
Bas, E. (2019). A Brief Introduction to Stochastic Processes. In: Basics of Probability and Stochastic Processes. Springer, Cham. https://doi.org/10.1007/978-3-030-32323-3_8
Download citation
DOI: https://doi.org/10.1007/978-3-030-32323-3_8
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-030-32322-6
Online ISBN: 978-3-030-32323-3
eBook Packages: Mathematics and StatisticsMathematics and Statistics (R0)