Modeling and Analysis of Stochastic Systems, Second Edition
Modeling and Analysis of Stochastic Systems, Second Edition (Chapman & Hall/CRC Texts in Statistical Science)
Based on the author’s more than 25 years of teaching experience, Modeling and Analysis of Stochastic Systems, Second Edition covers the most important classes of stochastic processes used in the modeling of diverse systems, from supply chains and inventory systems to genetics and biological systems. For each class of stochastic process, the text includes its definition, characterization, applications, transient and limiting behavior, first passage times, and cost/reward models. Along with reorganizing the material, this edition revises and adds new exercises and examples. New to the Second Edition A new chapter on diffusion processes that gives an accessible and non-measure-theoretic treatment with applications to finance A more streamlined, application-oriented approach to renewal, regenerative, and Markov regenerative processes Two appendices that collect relevant results from analysis and differential and difference equations Rather than offer special tricks that work
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