{"product_id":"stochastic-processes-with-actuarial-applications-natalia-a-humphreys-9798823357746","title":"Stochastic Processes with Actuarial Applications","description":"\u003cp\u003e\u003cstrong\u003eStochastic Processes with Actuarial Applications\u003c\/strong\u003e provides a rigorous yet accessible introduction to the mathematical modeling of systems that evolve under uncertainty, with a particular emphasis on applications in actuarial science, statistics, and finance. The text focuses on discrete-time and continuous-time Markov chains, combining theoretical foundations with practical models such as Poisson processes, renewal processes, and queuing systems.\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003eThe material progresses from fundamental concepts-including the Markov property and transition matrices-to advanced topics such as multi-state models, limiting distributions, ruin theory, and stochastic differential equations. Additional chapters explore random walks, gambler's ruin, renewal phenomena, and the analysis of queuing systems through birth-and-death processes. The book concludes with an introduction to Gaussian processes, including Brownian motion and empirical distribution theory, highlighting applications in insurance and financial modeling. End-of-chapter exercises and selected solutions provide opportunities for students to strengthen their understanding through applied problem solving.\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003eDesigned for upper-level undergraduate and graduate courses in probability, stochastic processes, actuarial modeling, and statistics, \u003cstrong\u003eStochastic Processes with Actuarial Applications\u003c\/strong\u003e serves as both a classroom text and a practical reference. The book supports students pursuing studies in actuarial science, finance, insurance, engineering, and related quantitative disciplines, while providing a strong foundation for professional actuarial examinations.\u003c\/p\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Natalia A. Humphreys,Yuly Koshevnik\u003cbr\u003e\u003cb\u003eISBN-13:\u003c\/b\u003e 9798823357746\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Cognella Academic Publishing\u003cbr\u003e\u003cb\u003eLanguage:\u003c\/b\u003e English\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 07\/15\/2026\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 342\u003cbr\u003e\u003cb\u003eFormat:\u003c\/b\u003e Paperback\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 1.50lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 10.00h x 8.00w x 0.71d","brand":"Natalia A. Humphreys","offers":[{"title":"Paperback","offer_id":49174575055103,"sku":"9798823357746","price":127.95,"currency_code":"USD","in_stock":true}],"url":"https:\/\/www.whiterainbookhouse.com\/products\/stochastic-processes-with-actuarial-applications-natalia-a-humphreys-9798823357746","provider":"WR Book House","version":"1.0","type":"link"}