Customer Reviews

Introduction to Stochastic Processes, Second Edition (Chapman & Hall/CRC Probability Series)

5 star:		(5)
4 star:		(1)
3 star:		(0)
2 star:		(1)
1 star:		(0)

 

 

When I was a grad student in the early 90's, the only available texts for this subject were Hoel, Port and Stone's third volume and Phillip Protter's book. The problem was that Hoel, Port and Stone was too intuitive, and Prottor was too formal.

This book is just right. The examples are well thought out, and the presentation of the subject matter is effecient without being sparse. The segue from the intuitive concept to the formal definitions / proofs is almost seemless.

I would recommend this book to anyone who wishes to learn about stochastic processes. Glad I found it!

This is one of the best books I've ever read in Stochastic Processes. Prof. Lawler presents Markov Chains (Finite, Countable and Continuous), Optimal Stopping, Martingales and Brownian motion concisely and straight to the gist of the subject. The exercises set at the end of each chapter fall into 2 categories: for people who read the book well and actually understand what has been stated, and to people who have a thorough understanding of solid probability theory (harder exercises).

Furthermore, it is such a small book that makes me wonder how so many information could fit in there.

The only small drawback is the few typos which can be picked up easily by the diligent reader.

In total is an extremelly good book, especially for people that haven't had an extensive contact w/ the subject before (or even measure theory), without losing any point of precision whatsoever.

The book is great is perfectly goes with the Ross Probability Models book, but unlike the Ross book it has nice readable examples and it's not the hard on the proofs, which I like and it has very doable nice simple problems and a lot of examples that only bad side is that there are no solution. So it's a great supplementary book to use in any grad class that requires stochastic processes queuing theory or Brownian motion to be explained nicely.

Lawler's book is used by several master programs in financial engineering or mathematical finance. It does an excellent job for understanding basic stochastic models. Mathematical proofs and logics in the book are clear and easy to be understood. You just follow the contents and you will find that it is so easy to study stochastic process. But for stochastic analysis, this book covers not much and it is not a book for stochastic analysis.

The book is good for advance user, but not quite friendly for a beginner. It covers comprehensive knowledge of random process, but doesn't go deeply in details of mathematical background.

In a very concise and clear way, this book gives readers all need to know in stochastic processes. It is very successful in approaching all problems and theorems without any measure theory. Great for students with all kinds of math background.

Thsi text is too complicated. I wish I had bought a better book. But unfortunately there are not many good books on this topic.