A text/reference for students of probability theory, statistics, actuarial sciences, or financial mathematics, in beginning and intermediate graduate courses in stochastic modeling. Renewal
theory, random walks, discrete and continuous-time Markov processes, martingale theory, and point processes are among the major topics treated. Topics have been selected on the basis of their
relevance within an actuarial or financial context. Overviews principle concepts of insurance and finance, details numerical and algorithmic procedures essential for modern insurance practices,
and offers practical examples with real life data. Annotation c. Book News, Inc., Portland, OR (booknews.com)
