Introduction

Uwe Hassler

Chapter 1 in Stochastic Processes and Calculus, 2016, pp 1-10 from Springer

Abstract: Abstract Stochastic calculus is used in finance and econom(etr)ics for instance for solving stochastic differential equations and handling stochastic integrals. This requires stochastic processes. Although stemming from a rather recent area of mathematics, the methods of stochastic calculus have shortly come to be widely spread not only in finance and economics. Moreover, these techniques – along with methods of time series modeling – are central in the contemporary econometric tool box. In this introductory chapter some motivating questions are brought up being answered in the course of the book, thus providing a brief survey of the topics treated.

Keywords: Interest Rate; Random Walk; Stock Price; Stochastic Differential Equation; Nobel Prize (search for similar items in EconPapers)
Date: 2016
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DOI: 10.1007/978-3-319-23428-1_1

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