The Brownian Motion: A Rigorous but Gentle Introduction for EconomistsThis open access textbook is the first to provide Business and Economics Ph.D. students with a precise and intuitive introduction to the formal backgrounds of modern financial theory. It explains Brownian motion, random processes, measures, and Lebesgue integrals intuitively, but without sacrificing the necessary mathematical formalism, making them accessible for readers with little or no previous knowledge of the field. It also includes mathematical definitions and the hidden stories behind the terms discussing why the theories are presented in specific ways. |
Other editions - View all
The Brownian Motion: A Rigorous But Gentle Introduction for Economists Andreas Löffler,Lutz Kruschwitz No preview available - 2019 |
The Brownian Motion: A Rigorous but Gentle Introduction for Economists Andreas Löffler,Lutz Kruschwitz No preview available - 2020 |
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assigned assume Author(s binomial model Brownian motion Brownian paths calculate cash flows chapter’s Creative Commons closed interval coin toss conditional expectation consider constructed contains continuous functions convergence Creative Commons licence decision-maker define definition described determine dice roll differentiable Dirac measure Dirichlet function disjoint economic elementary events elements equation event space example expected value finite following applies function f function value illustrate infinite number infinite union intersection Kruschwitz Lebesgue integral limit look lower sum mathematical mathematician measurable functions measurable sets natural numbers nonnegative Null sets open intervals possible probability measure random variable rational numbers reader real line real numbers realize result Riemann integral sequence of functions sequence of numbers set of natural share price Springer Texts staircase function Stieltjes measure stochastic subintervals subsets Texts in Business theory upper sum Weierstraß Wiener measure