How to Gamble If You Must

Inequalities for Stochastic Processes

Author: Lester E. Dubins,Leonard J. Savage,William Sudderth,David Gilat

Publisher: Courier Corporation

ISBN: 0486780643

Category: Mathematics

Page: 304

View: 4189

This classic of advanced statistics is geared toward graduate-level readers and uses the concepts of gambling to develop important ideas in probability theory. The authors have distilled the essence of many years' research into a dozen concise chapters. "Strongly recommended" by the Journal of the American Statistical Association upon its initial publication, this revised and updated edition features contributions from two well-known statisticians that include a new Preface, updated references, and findings from recent research. Following an introductory chapter, the book formulates the gambler's problem and discusses gambling strategies. Succeeding chapters explore the properties associated with casinos and certain measures of subfairness. Concluding chapters relate the scope of the gambler's problems to more general mathematical ideas, including dynamic programming, Bayesian statistics, and stochastic processes. Dover (2014) revised and updated republication of the 1976 Dover edition entitled Inequalities for Stochastic Processes. See every Dover book in print at

Understanding Markov Chains

Examples and Applications

Author: Nicolas Privault

Publisher: Springer

ISBN: 9811306591

Category: Mathematics

Page: 372

View: 9255

This book provides an undergraduate-level introduction to discrete and continuous-time Markov chains and their applications, with a particular focus on the first step analysis technique and its applications to average hitting times and ruin probabilities. It also discusses classical topics such as recurrence and transience, stationary and limiting distributions, as well as branching processes. It first examines in detail two important examples (gambling processes and random walks) before presenting the general theory itself in the subsequent chapters. It also provides an introduction to discrete-time martingales and their relation to ruin probabilities and mean exit times, together with a chapter on spatial Poisson processes. The concepts presented are illustrated by examples, 138 exercises and 9 problems with their solutions.

Sociophysics: An Introduction

Author: Parongama Sen,Bikas K. Chakrabarti

Publisher: Oxford University Press

ISBN: 0199662452

Category: Computers

Page: 283

View: 7616

This book discusses the study and analysis of the physical aspects of social systems and models, inspired by the analogy with familiar models of physical systems and possible applications of statistical physics tools. Unlike the traditional analysis of the physics of macroscopic many-body or condensed matter systems, which is now an established and mature subject, the upsurge in the physical analysis and modelling of social systems, which are clearly many-body dynamical systems, is a recent phenomenon. Though the major developments in sociophysics have taken place only recently, the earliest attempts of proposing "Social Physics" as a discipline are more than one and a half centuries old. Various developments in the mainstream physics of condensed matter systems have inspired and induced the recent growth of sociophysical analysis and models. In spite of the tremendous efforts of many scientists in recent years, the subject is still in its infancy and major challenges are yet to be taken up. An introduction to these challenges is the main motivation for this book.

The Foundations of Statistics

Author: Leonard J. Savage

Publisher: Courier Corporation

ISBN: 0486137104

Category: Mathematics

Page: 352

View: 6755

Classic analysis of the foundations of statistics and development of personal probability, one of the greatest controversies in modern statistical thought. Revised edition. Calculus, probability, statistics, and Boolean algebra are recommended.

Control Techniques for Complex Networks

Author: Sean Meyn

Publisher: Cambridge University Press

ISBN: 0521884411

Category: Computers

Page: 562

View: 4171

From foundations to state-of-the-art; the tools and philosophy you need to build network models.

Professional Automated Trading

Theory and Practice

Author: Eugene A. Durenard

Publisher: John Wiley & Sons

ISBN: 1118419294

Category: Business & Economics

Page: 384

View: 3601

An insider's view of how to develop and operate an automated proprietary trading network Reflecting author Eugene Durenard's extensive experience in this field, Professional Automated Trading offers valuable insights you won't find anywhere else. It reveals how a series of concepts and techniques coming from current research in artificial life and modern control theory can be applied to the design of effective trading systems that outperform the majority of published trading systems. It also skillfully provides you with essential information on the practical coding and implementation of a scalable systematic trading architecture. Based on years of practical experience in building successful research and infrastructure processes for purpose of trading at several frequencies, this book is designed to be a comprehensive guide for understanding the theory of design and the practice of implementation of an automated systematic trading process at an institutional scale. Discusses several classical strategies and covers the design of efficient simulation engines for back and forward testing Provides insights on effectively implementing a series of distributed processes that should form the core of a robust and fault-tolerant automated systematic trading architecture Addresses trade execution optimization by studying market-pressure models and minimization of costs via applications of execution algorithms Introduces a series of novel concepts from artificial life and modern control theory that enhance robustness of the systematic decision making—focusing on various aspects of adaptation and dynamic optimal model choice Engaging and informative, Proprietary Automated Trading covers the most important aspects of this endeavor and will put you in a better position to excel at it.

All of Statistics

A Concise Course in Statistical Inference

Author: Larry Wasserman

Publisher: Springer Science & Business Media

ISBN: 0387217363

Category: Mathematics

Page: 442

View: 7803

Taken literally, the title "All of Statistics" is an exaggeration. But in spirit, the title is apt, as the book does cover a much broader range of topics than a typical introductory book on mathematical statistics. This book is for people who want to learn probability and statistics quickly. It is suitable for graduate or advanced undergraduate students in computer science, mathematics, statistics, and related disciplines. The book includes modern topics like non-parametric curve estimation, bootstrapping, and classification, topics that are usually relegated to follow-up courses. The reader is presumed to know calculus and a little linear algebra. No previous knowledge of probability and statistics is required. Statistics, data mining, and machine learning are all concerned with collecting and analysing data.

Introduction to Probability

Author: Charles Miller Grinstead,James Laurie Snell

Publisher: American Mathematical Soc.

ISBN: 0821894145

Category: Probabilities

Page: 510

View: 5193

This text is designed for an introductory probability course at the university level for sophomores, juniors, and seniors in mathematics, physical and social sciences, engineering, and computer science. It presents a thorough treatment of ideas and techniques necessary for a firm understanding of the subject. The text is also recommended for use in discrete probability courses. The material is organized so that the discrete and continuous probability discussions are presented in a separate, but parallel, manner. This organization does not emphasize an overly rigorous or formal view of probability and therefore offers some strong pedagogical value. Hence, the discrete discussions can sometimes serve to motivate the more abstract continuous probability discussions. Features: Key ideas are developed in a somewhat leisurely style, providing a variety of interesting applications to probability and showing some nonintuitive ideas. Over 600 exercises provide the opportunity for practicing skills and developing a sound understanding of ideas. Numerous historical comments deal with the development of discrete probability. The text includes many computer programs that illustrate the algorithms or the methods of computation for important problems. The book is a beautiful introduction to probability theory at the beginning level. The book contains a lot of examples and an easy development of theory without any sacrifice of rigor, keeping the abstraction to a minimal level. It is indeed a valuable addition to the study of probability theory. --Zentralblatt MATH

Utility and Probability

Author: John Eatwell,Murray Milgate,Peter Newman

Publisher: Springer

ISBN: 1349205680

Category: Business & Economics

Page: 319

View: 4400

This is an excerpt from the 4-volume dictionary of economics, a reference book which aims to define the subject of economics today. 1300 subject entries in the complete work cover the broad themes of economic theory. This extract concentrates on utility and probability.

If You Must Gamble

Author: Maurice Lenihan

Publisher: N.A

ISBN: 9781494015534


Page: 128

View: 4425

This is a new release of the original 1946 edition.

Becoming Biochemically Sober

7 Steps to Increase Health, Happiness and Unlock the Superhuman Within

Author: Lester Savage

Publisher: N.A

ISBN: 9781527220997


Page: 298

View: 6185

From super slob to superhuman, Lester Savage completely transformed his body and mind through a whirlwind of research into neuroscience, biology, psychology, anthropology and spirituality. He lived in a Buddhist centre, trained his body to endure sub-zero temperatures and lost over 100lbs. Physically, intellectually and emotionally Lester discovered the key to unlocking true human potential... changing our biochemistry. Science has proven our hunter-gatherer ancestors were given definite biological rewards/feelings for operating within certain evolutionary parameters. These rewards/feelings gave them the physical and mental strength to do incredible things. It made them happier, stronger, braver and healthier. To us, they would seem like superhumans. Despite living in the best era of human history, we need only briefly look around to see that something is terribly wrong. Depression and anxiety is dramatically on the rise, obesity is considered the new epidemic, and although our cities are filled with millions of people it has never been so easy to feel completely alone. It's obvious that western culture isn't working for our species. By moving away from the evolutionary parameters most of us have stopped getting this biological reward. We now know that the reward experienced by our ancestors was a biochemical response in the brain and body - a series of neurotransmitters that act as a catalyst for strong mental and physical health. Thankfully we don't need to return to a primitive style of living to also experience these feelings; by making small lifestyle changes and working within the correct evolutionary parameters we can begin to produce a consistent flow of these neurotransmitters too. The result? We become superhuman. We become biochemically sober.

Modeling with Itô Stochastic Differential Equations

Author: E. Allen

Publisher: Springer Science & Business Media

ISBN: 1402059531

Category: Mathematics

Page: 230

View: 9527

This book explains a procedure for constructing realistic stochastic differential equation models for randomly varying systems in biology, chemistry, physics, engineering, and finance. Introductory chapters present the fundamental concepts of random variables, stochastic processes, stochastic integration, and stochastic differential equations. These concepts are explained in a Hilbert space setting which unifies and simplifies the presentation.

Classical and Spatial Stochastic Processes

With Applications to Biology

Author: Rinaldo B. Schinazi

Publisher: Springer

ISBN: 1493918699

Category: Mathematics

Page: 268

View: 7602

The revised and expanded edition of this textbook presents the concepts and applications of random processes with the same illuminating simplicity as its first edition, but with the notable addition of substantial modern material on biological modeling. While still treating many important problems in fields such as engineering and mathematical physics, the book also focuses on the highly relevant topics of cancerous mutations, influenza evolution, drug resistance, and immune response. The models used elegantly apply various classical stochastic models presented earlier in the text, and exercises are included throughout to reinforce essential concepts. The second edition of Classical and Spatial Stochastic Processes is suitable as a textbook for courses in stochastic processes at the advanced-undergraduate and graduate levels, or as a self-study resource for researchers and practitioners in mathematics, engineering, physics, and mathematical biology. Reviews of the first edition: An appetizing textbook for a first course in stochastic processes. It guides the reader in a very clever manner from classical ideas to some of the most interesting modern results. ... All essential facts are presented with clear proofs, illustrated by beautiful examples. ... The book is well organized, has informative chapter summaries, and presents interesting exercises. The clear proofs are concentrated at the ends of the chapters making it easy to find the results. The style is a good balance of mathematical rigorosity and user-friendly explanation. —Biometric Journal This small book is well-written and well-organized. ... Only simple results are treated ... but at the same time many ideas needed for more complicated cases are hidden and in fact very close. The second part is a really elementary introduction to the area of spatial processes. ... All sections are easily readable and it is rather tentative for the reviewer to learn them more deeply by organizing a course based on this book. The reader can be really surprised seeing how simple the lectures on these complicated topics can be. At the same time such important questions as phase transitions and their properties for some models and the estimates for certain critical values are discussed rigorously. ... This is indeed a first course on stochastic processes and also a masterful introduction to some modern chapters of the theory. —Zentralblatt Math

Good Thinking

The Foundations of Probability and Its Applications

Author: Irving John Good

Publisher: U of Minnesota Press

ISBN: 1452910146

Category: Mathematics

Page: 332

View: 7651

Good Thinking was first published in 1983.Good Thinking is a representative sampling of I. J. Good's writing on a wide range of questions about the foundations of statistical inference, especially where induction intersects with philosophy. Good believes that clear reasoning about many important practical and philosophical questions is impossible except in terms of probability. This book collects from various published sources 23 of Good's articles with an emphasis on more philosophical than mathematical.He covers such topics as rational decisions, randomness, operational research, measurement of knowledge, mathematical discovery, artificial intelligence, cognitive psychology, chess, and the nature of probability itself. In spite of the wide variety of topics covered, Good Thinking is based on a unified philosophy which makes it more than the sum of its parts. The papers are organized into five sections: Bayesian Rationality; Probability; Corroboration, Hypothesis Testing, and Simplicity; Information and Surprise; and Causality and Explanation. The numerous references, an extensive index, and a bibliography guide the reader to related modern and historic literature.This collection makes available to a wide audience, for the first time, the most accessible work of a very creative thinker. Philosophers of science, mathematicians, scientists, and, in Good's words, anyone who wants “to understand understanding, to reason about reasoning, to explain explanation, to think about thought, and to decide how to decide” will find Good Thinking a stimulating and provocative look at probability.

An Introduction to Stochastic Modeling

Author: Howard M. Taylor,Samuel Karlin

Publisher: Academic Press

ISBN: 1483220443

Category: Mathematics

Page: 578

View: 5042

An Introduction to Stochastic Modeling, Revised Edition provides information pertinent to the standard concepts and methods of stochastic modeling. This book presents the rich diversity of applications of stochastic processes in the sciences. Organized into nine chapters, this book begins with an overview of diverse types of stochastic models, which predicts a set of possible outcomes weighed by their likelihoods or probabilities. This text then provides exercises in the applications of simple stochastic analysis to appropriate problems. Other chapters consider the study of general functions of independent, identically distributed, nonnegative random variables representing the successive intervals between renewals. This book discusses as well the numerous examples of Markov branching processes that arise naturally in various scientific disciplines. The final chapter deals with queueing models, which aid the design process by predicting system performance. This book is a valuable resource for students of engineering and management science. Engineers will also find this book useful.

Spatial Stochastic Processes

A Festschrift in Honor of Ted Harris on his Seventieth Birthday

Author: K.S. Alexander,J.C. Watkins

Publisher: Springer Science & Business Media

ISBN: 9780817634773

Category: Mathematics

Page: 258

View: 8568

This volume has been created in honor of the seventieth birthday of Ted Harris, which was celebrated on January 11th, 1989. The papers rep resent the wide range of subfields of probability theory in which Ted has made profound and fundamental contributions. This breadth in Ted's research complicates the task of putting together in his honor a book with a unified theme. One common thread noted was the spatial, or geometric, aspect of the phenomena Ted investigated. This volume has been organized around that theme, with papers covering four major subject areas of Ted's research: branching processes, percola tion, interacting particle systems, and stochastic flows. These four topics do not· exhaust his research interests; his major work on Markov chains is commemorated in the standard technology "Harris chain" and "Harris recurrent" . The editors would like to take this opportunity to thank the speakers at the symposium and the contributors to this volume. Their enthusi astic support is a tribute to Ted Harris. We would like to express our appreciation to Annette Mosley for her efforts in typing the manuscripts and to Arthur Ogawa for typesetting the volume. Finally, we gratefully acknowledge the National Science Foundation and the University of South ern California for their financial support.

Fundamentals of Probability with Stochastic Processes

Author: Saeed Ghahramani

Publisher: CRC Press

ISBN: 042985627X

Category: Mathematics

Page: 632

View: 5640

"The 4th edition of Ghahramani's book is replete with intriguing historical notes, insightful comments, and well-selected examples/exercises that, together, capture much of the essence of probability. Along with its Companion Website, the book is suitable as a primary resource for a first course in probability. Moreover, it has sufficient material for a sequel course introducing stochastic processes and stochastic simulation." --Nawaf Bou-Rabee, Associate Professor of Mathematics, Rutgers University Camden, USA "This book is an excellent primer on probability, with an incisive exposition to stochastic processes included as well. The flow of the text aids its readability, and the book is indeed a treasure trove of set and solved problems. Every sub-topic within a chapter is supplemented by a comprehensive list of exercises, accompanied frequently by self-quizzes, while each chapter ends with a useful summary and another rich collection of review problems." --Dalia Chakrabarty, Department of Mathematical Sciences, Loughborough University, UK "This textbook provides a thorough and rigorous treatment of fundamental probability, including both discrete and continuous cases. The book’s ample collection of exercises gives instructors and students a great deal of practice and tools to sharpen their understanding. Because the definitions, theorems, and examples are clearly labeled and easy to find, this book is not only a great course accompaniment, but an invaluable reference." --Joshua Stangle, Assistant Professor of Mathematics, University of Wisconsin – Superior, USA This one- or two-term calculus-based basic probability text is written for majors in mathematics, physical sciences, engineering, statistics, actuarial science, business and finance, operations research, and computer science. It presents probability in a natural way: through interesting and instructive examples and exercises that motivate the theory, definitions, theorems, and methodology. This book is mathematically rigorous and, at the same time, closely matches the historical development of probability. Whenever appropriate, historical remarks are included, and the 2096 examples and exercises have been carefully designed to arouse curiosity and hence encourage students to delve into the theory with enthusiasm. New to the Fourth Edition: 538 new examples and exercises have been added, almost all of which are of applied nature in realistic contexts Self-quizzes at the end of each section and self-tests at the end of each chapter allow students to check their comprehension of the material An all-new Companion Website includes additional examples, complementary topics not covered in the previous editions, and applications for more in-depth studies, as well as a test bank and figure slides. It also includes complete solutions to all self-test and self-quiz problems Saeed Ghahramani is Professor of Mathematics and Dean of the College of Arts and Sciences at Western New England University. He received his Ph.D. from the University of California at Berkeley in Mathematics and is a recipient of teaching awards from Johns Hopkins University and Towson University. His research focuses on applied probability, stochastic processes, and queuing theory.

Uniform Distribution of Sequences

Author: L. Kuipers,H. Niederreiter

Publisher: Courier Corporation

ISBN: 0486149994

Category: Mathematics

Page: 416

View: 4911

The theory of uniform distribution began with Weyl's celebrated paper of 1916 and this book summarizes its development through the mid-1970s, with comprehensive coverage of methods and principles. 1974 edition.

Probability Essentials

Author: Jean Jacod,Philip Protter

Publisher: Springer Science & Business Media

ISBN: 3642556825

Category: Mathematics

Page: 254

View: 5194

This introduction can be used, at the beginning graduate level, for a one-semester course on probability theory or for self-direction without benefit of a formal course; the measure theory needed is developed in the text. It will also be useful for students and teachers in related areas such as finance theory, electrical engineering, and operations research. The text covers the essentials in a directed and lean way with 28 short chapters, and assumes only an undergraduate background in mathematics. Readers are taken right up to a knowledge of the basics of Martingale Theory, and the interested student will be ready to continue with the study of more advanced topics, such as Brownian Motion and Ito Calculus, or Statistical Inference.


A Brief History of Humankind

Author: Yuval Noah Harari

Publisher: Harper Collins

ISBN: 0062316109

Category: Science

Page: 464

View: 3747

New York Times Bestseller A Summer Reading Pick for President Barack Obama, Bill Gates, and Mark Zuckerberg From a renowned historian comes a groundbreaking narrative of humanity’s creation and evolution—a #1 international bestseller—that explores the ways in which biology and history have defined us and enhanced our understanding of what it means to be “human.” One hundred thousand years ago, at least six different species of humans inhabited Earth. Yet today there is only one—homo sapiens. What happened to the others? And what may happen to us? Most books about the history of humanity pursue either a historical or a biological approach, but Dr. Yuval Noah Harari breaks the mold with this highly original book that begins about 70,000 years ago with the appearance of modern cognition. From examining the role evolving humans have played in the global ecosystem to charting the rise of empires, Sapiens integrates history and science to reconsider accepted narratives, connect past developments with contemporary concerns, and examine specific events within the context of larger ideas. Dr. Harari also compels us to look ahead, because over the last few decades humans have begun to bend laws of natural selection that have governed life for the past four billion years. We are acquiring the ability to design not only the world around us, but also ourselves. Where is this leading us, and what do we want to become? Featuring 27 photographs, 6 maps, and 25 illustrations/diagrams, this provocative and insightful work is sure to spark debate and is essential reading for aficionados of Jared Diamond, James Gleick, Matt Ridley, Robert Wright, and Sharon Moalem.