Here is the listing of Best reference books on Selected Application of Stochastic Models.
|1. “Dynamic Programming and Optimal Control” by D Bertsikas
Book Review: This book is focused towards modeling, conceptualization, finite horizon problems and many other important concepts. The other part of the book deals with mathematical analysis and computation and presents up-to-date information about large scale dynamic programming and reinforcement learning. This book can also be used for optimal control, markovian decision problems and combinatorial problems. The book also stresses on basic unifying themes and conceptual foundations. The book also addresses practical application of methodology along with the use of approximations.
|2. “Options Futures and other Derivatives” by J C Hull
Book Review: This book covers the latest advancements in the field of applied stochastic processes and queuing theory with a strong focus on time averages and long run behavior. The book simultaneously also illustrates the practical effects like priorities, pooling of queues and bottlenecks. The book also develops queuing theory models in mathematical language and applies it to many engineering problems. This book is suitable for courses in queuing theory in operations research, computer science and statistics departments at the graduate level.
|3. “Stochastic Modeling and Theory of Queues” by R W Wolff
Book Review: This book bridges the gap between the theoretical and practical methods of stochastic modeling and theory of queues. The book also provides introduction to futures and options markets and is very suitable for people with a limited background in mathematics. The book also contains a new chapter on securitization and credit crisis and additionally the book also includes a discussion on way commodity prices where modeling and commodity derivatives are valued.
Sanfoundry Global Education & Learning Series – Best Reference Books!