An Application: Finance
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Stochastic processes are useful as models of random phenomena, among which a particularly interesting instance is given by the evolution of the values of financial (stocks, bonds, …) and monetary assets listed on the Stock Exchange.
- Musiela, M. and Rutkowski, M. (2005). Martingale methods in financial modelling, volume 36 of Stochastic Modelling and Applied Probability. Springer-Verlag, Berlin, second edition.Google Scholar
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