How Long to Read Stochastic Processes with Applications to Finance

How Long Does it Take to Read Stochastic Processes with Applications to Finance?

It takes the average reader 4 hours and 50 minutes to read Stochastic Processes with Applications to Finance by Masaaki Kijima

Assuming a reading speed of 250 words per minute. Learn more

Description

In recent years, modeling financial uncertainty using stochastic processes has become increasingly important, but it is commonly perceived as requiring a deep mathematical background. Stochastic Processes with Applications to Finance shows that this is not necessarily so. It presents the theory of discrete stochastic processes and their applications in finance in an accessible treatment that strikes a balance between the abstract and the practical. Using an approach that views sophisticated stochastic calculus as based on a simple class of discrete processes-"random walks"-the author first provides an elementary introduction to the relevant areas of real analysis and probability. He then uses random walks to explain the change of measure formula, the reflection principle, and the Kolmogorov backward equation. The Black-Scholes formula is derived as a limit of binomial model, and applications to the pricing of derivative securities are presented. Another primary focus of the book is the pricing of corporate bonds and credit derivatives, which the author explains in terms of discrete default models. By presenting important results in discrete processes and showing how to transfer those results to their continuous counterparts, Stochastic Processes with Applications to Finance imparts an intuitive and practical understanding of the subject. This unique treatment is ideal both as a text for a graduate-level class and as a reference for researchers and practitioners in financial engineering, operations research, and mathematical and statistical finance.

How long is Stochastic Processes with Applications to Finance?

Stochastic Processes with Applications to Finance by Masaaki Kijima is 290 pages long, and a total of 72,500 words.

This makes it 98% the length of the average book. It also has 89% more words than the average book.

How Long Does it Take to Read Stochastic Processes with Applications to Finance Aloud?

The average oral reading speed is 183 words per minute. This means it takes 6 hours and 36 minutes to read Stochastic Processes with Applications to Finance aloud.

What Reading Level is Stochastic Processes with Applications to Finance?

Stochastic Processes with Applications to Finance is suitable for students ages 12 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Stochastic Processes with Applications to Finance?

Stochastic Processes with Applications to Finance by Masaaki Kijima is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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