{"product_id":"monte-carlo-methods-and-models-ralf-korn-9781420076189","title":"Monte Carlo Methods and Models in Finance and Insurance","description":"\u003cp\u003eOffering a unique balance between applications and calculations, \u003cstrong\u003eMonte Carlo Methods and Models in Finance and Insurance\u003c\/strong\u003e incorporates the application background of finance and insurance with the theory and applications of Monte Carlo methods. It presents recent methods and algorithms, including the multilevel Monte Carlo method, the statistical Romberg method, and the Heath-Platen estimator, as well as recent financial and actuarial models, such as the Cheyette and dynamic mortality models.\u003c\/p\u003e\u003cp\u003eThe authors separately discuss Monte Carlo techniques, stochastic process basics, and the theoretical background and intuition behind financial and actuarial mathematics, before bringing the topics together to apply the Monte Carlo methods to areas of finance and insurance. This allows for the easy identification of standard Monte Carlo tools and for a detailed focus on the main principles of financial and insurance mathematics. The book describes high-level Monte Carlo methods for standard simulation and the simulation of stochastic processes with continuous and discontinuous paths. It also covers a wide selection of popular models in finance and insurance, from Black-Scholes to stochastic volatility to interest rate to dynamic mortality.\u003c\/p\u003e\u003cp\u003eThrough its many numerical and graphical illustrations and simple, insightful examples, this book provides a deep understanding of the scope of Monte Carlo methods and their use in various financial situations. The intuitive presentation encourages readers to implement and further develop the simulation methods.\u003c\/p\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Ralf Korn,Elke Korn,Gerald Kroisandt\u003cbr\u003e\u003cb\u003eISBN-10:\u003c\/b\u003e 1420076183\u003cbr\u003e\u003cb\u003eISBN-13:\u003c\/b\u003e 9781420076189\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e CRC Press\u003cbr\u003e\u003cb\u003eLanguage:\u003c\/b\u003e English\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 03\/01\/2010\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 484\u003cbr\u003e\u003cb\u003eFormat:\u003c\/b\u003e Hardcover\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 1.75lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.30h x 6.30w x 1.20d\u003cbr\u003e\u003cbr\u003e\u003cb\u003eReview Citation(s): \u003c\/b\u003e\u003cbr\u003e\u003ci\u003eReference and Research Bk News\u003c\/i\u003e 08\/01\/2010 pg. 119","brand":"Ralf Korn","offers":[{"title":"Hardcover","offer_id":48088202838271,"sku":"9781420076189","price":190.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0662\/2982\/9887\/files\/img_86fe0f72-e90f-4a9c-b63d-ba08eb8a7298.jpg?v=1769103628","url":"https:\/\/www.whiterainbookhouse.com\/products\/monte-carlo-methods-and-models-ralf-korn-9781420076189","provider":"WR Book House","version":"1.0","type":"link"}