Newsletter   Secure Checkout   View Cart (0 items)  
Search:    Welcome Guest! Save up to 30-40% on most items with our awesome everyday discounts!

Essentials of Stochastic Finance: Facts, Models, Theory [Hardcover]

Our Price $ 69.30  
Retail Value $ 99.00  
You Save $ 29.70  (30%)  
Item Number 168004  
Buy New $69.30
Out Of Stock!
Currently Out Of Stock
Currently unavailable...

Item description for Essentials of Stochastic Finance: Facts, Models, Theory by Albert Nikolaevich Shiriaev...

This important book provides information necessary for those dealing with stochastic calculus and pricing in the models of financial markets operating under uncertainty; introduces the reader to the main concepts, notions and results of stochastic financial mathematics; and develops applications of these results to various kinds of calculations required in financial engineering. It also answers the requests of teachers of financial mathematics and engineering by making a bias towards probabilistic and statistical ideas and the methods of stochastic calculus in the analysis of market risks.

Promise Angels is dedicated to bringing you great books at great prices. Whether you read for entertainment, to learn, or for literacy - you will find what you want at!

Item Specifications...

Studio: World Scientific Publishing Company
Pages   834
Est. Packaging Dimensions:   Length: 1.75" Width: 6.5" Height: 8.75"
Weight:   3.1 lbs.
Binding  Hardcover
Release Date   Apr 15, 1999
Publisher   World Scientific Publishing Company
ISBN  9810236050  
ISBN13  9789810236052  

Availability  0 units.

More About Albert Nikolaevich Shiriaev

Register your artisan biography and upload your photo! Are You The Artisan or Author behind this product?
Improve our customers experience by registering for an Artisan Biography Center Homepage.

Product Categories

1Books > Special Features > New & Used Textbooks
2Books > Subjects > Business & Investing > Economics > General
3Books > Subjects > Business & Investing > Economics > Statistics
4Books > Subjects > Business & Investing > Finance
5Books > Subjects > Business & Investing > General
6Books > Subjects > Business & Investing > Investing
7Books > Subjects > Professional & Technical > Accounting & Finance > Finance > General
8Books > Subjects > Professional & Technical > Accounting & Finance > Finance
9Books > Subjects > Professional & Technical > Professional Science > Mathematics > Applied > General
10Books > Subjects > Professional & Technical > Professional Science > Mathematics > Applied > Statistics
11Books > Subjects > Science > Mathematics > Applied > General
12Books > Subjects > Science > Mathematics > Applied > Probability & Statistics

Reviews - What do customers think about Essentials of Stochastic Finance: Facts, Models, Theory?

Shiryaev knows his stuff!  Sep 13, 2006
This book is typical of Shiryaev, who is a representative of the Russian school of probability theory. Not only the book explains the technical details clearly, but also it explains the "bigger picture" as to why this particular mathematical set-up makes sense and it is a good approximation of reality. The book reflects the (admirable) Russian style of teaching: explain the origins of theory, which are usually some specific problem; then carefully develop a mathematical theory tailor-made for the given problem; finally, disclose the essence of the problem and produce a beautiful result.

Before reading this book, I have been quite familiar with stochastic calculus and semi-martingale theory. What interests me most (sometimes puzzles me most) is the way how theory is applied to financial math problems, esp. the justification of certain "conventions" (e.g. we always start with discounted process, play with martingale measures, and do certain standard "rituals" in pricing and hedging). Sometimes people abuse those conventions when the theory's set-up is not quite appropriate. Shiryaev's book shows the justification and limitation of theory, by clearly explaining the origins and specific contexts of theory. This is especially helpful to getting a true understanding of the subject. I would say after reading his book, my mind has achieved a harmony.

I read Shiryaev's book on probability (GTM 95) many years ago. It was a pleasant experience. Now I'm happy to have this kind of experience again. From lines of the book, you can see the author's passion and deep understanding of financial math.
I only regret I didn't read this book much earlier.
Excellent Monograph  Jul 21, 2005
This monograph starts from the very basics and develops as it progresses. Its historical notes found all over the book makes it unique and entertaining. As a mathematician aspiring to break through the STREET, I found it very accessible and comprehensive. If you have Brownian Motion and Stochastic Calculus at Shever/Kaaze's (how ever you spell their name) level, you will skim through this book with in weeks. But if you don't, don't panic, you will still be fine with some introductory level measure theoretic probability course.

You will enjoy it as I did.
Bravo  Nov 14, 2001
The Essentials of Stochastic Finance: Facts, Models, Theory by Albert N. Shiriaev, et al offers a clear treatment of both theoretical and emperical Finance. Shiryaev presents not only the essentials of probability as it is applied to finance,but he also covers recent develpoments in Mathematical Finance. It is very well written and it can be covered in one year (depending on the audience). Each topic moves from the specific to the general, beginning with one or more examples to lead into the theoretical results. This is the most comprehensive book out there. It covers Mathematical Finance, Martingale, Markov Thoery... to Econometric ARCH GARCH FGARCH theory of Finance CAPM APT... PART II of the book requires a good knowledge of Stochastic Calculus at Karatzas and Shreve level...

Write your own review about Essentials of Stochastic Finance: Facts, Models, Theory

Ask A Question or Provide Feedback regarding Essentials of Stochastic Finance: Facts, Models, Theory

Item Feedback and Product Questions
For immediate assistance call 888.395.0572 during the hours of 10am thru 8pm EST Monday thru Friday and a customer care representative will be happy to help you!

Help us continuously improve our service by reporting your feedback or questions below:

I have a question regarding this product
The information above is incorrect or conflicting
The page has misspellings or incorrect grammar
The page did not load correctly in my browser or created an error.

Email Address:
Anti Spam Question. To combat spammers we require that you answer a simple question.
What color is the sky?
Leave This Blank :
Do Not Change This Text :

Add This Product Widget To Your Website

Looking to add this information to your own website? Then use our Product Widget to allow you to display product information in a frame that is 120 pixels wide by 240 pixels high.

    Copy and paste the following HTML into your website and enjoy!

Order toll-free weekdays 10am thru 10pm EST by phone: 1-888-395-0572 (Lines are closed on holidays & weekends.)
Customer Service | My Account | Track My Orders | Return Policy | Request Free Catalog | Email Newsletter

Gift Certificates
RSS Feeds
About Us
Contact Us
Terms Of Use
Privacy Policy