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Diffusion processes are a promising instrument for realistically modelling the time-continuous evolution of phenomena not only in the natural sciences but also
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The first book in inference for stochastic processes from a statistical, rather than a probabilistic, perspective. It provides a systematic exposition of theore
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Decision making in all spheres of activity involves uncertainty. If rational decisions have to be made, they have to be based on the past observations of the ph
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Stochastic control theory is a relatively young branch of mathematics. The beginning of its intensive development falls in the late 1950s and early 1960s. ~urin
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Stochastic processes are widely used for model building in the social, physical, engineering and life sciences as well as in financial economics. In model build