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Probability and Random Processes, by Geoffrey R. Grimmett, David R. Stirzaker
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This book gives an introduction to probability and its many practical application by providing a thorough, entertaining account of basic probability and important random processes, covering a range of important topics. Emphasis is on modelling rather than abstraction and there are new sections on sampling and Markov chain Monte Carlo, renewal-reward, queueing networks, stochastic calculus, and option pricing in the Black-Scholes model for financial markets. In addition, there are almost 400 exercises and problems relevant to the material. Solutions can be found in One Thousand Exercises in Probability.
- Sales Rank: #287337 in Books
- Published on: 2001-08-02
- Original language: English
- Number of items: 1
- Dimensions: 6.40" h x 1.30" w x 8.90" l, 2.04 pounds
- Binding: Paperback
- 608 pages
Review
"Since its first appearance in 1982, Probability and Random Processes has been a landmark book on the subject and has become mandatory reading for any mathematician wishing to understand chance.It is aimed mainly at final-year honours students and graduate students, but it goes beyond this
level, and all serious mathematicians and academic libraries should own a copy ... the companion book of exercises is cleverly conceived and ... form(s) a perfect complement to the main text. " Times Higher Education Supplement
About the Author
Geoffrey Grimmett is at Statistical Laboratory, University of Cambridge. David Stirzaker is at Mathematical Institute, Oxford University.
Most helpful customer reviews
65 of 72 people found the following review helpful.
Actually this is a very good book for learning
By A Customer
I mostly agree with the positive reviews of the 3rd edition of Grimmett & Stirzaker's *Probability and Random Processes.* I wanted to address the criticism by the previous reviewer and add some detail regarding the 3rd edition (I suspect that the prior reviews might be based on the 1st 2 editions of the book).
(1) The prior reviewer might have a point in that this book may not have as many exercises and examples that are worked out to be helpful to the learner. However, this is because there is a companion book -- *One Thousand Exercises in Probability* (2nd ed.) -- that is designed to provide those examples and exercises. That book contains the answers/solutions to each and every exercise posed in that book. That book also closely follows the topics of this book. Together, those 2 books by Grimmett & Stirzaker should meet all of the requirements for self-studiers of probability theory. [Really, the 2 books should be seen as a set.]
(2) The 3rd edition of this book (along with exercises/answer book) cover a wide range of topics from probability starting from basics and going up to applications like queueing, Monte Carlo & Markov Chain Monte Carlo, Ito's Lemma & financial option valuation, etc. In short, this set of books should enable the sufficiently motivated to go from basic probability to a point where they can approach useful problems in applied probability (rather than toy problems offered by other books which, by the way, don't usually give the answers).
(3) Stirzaker (Oxford) has one of the best approaches to thinking about probability that I have ever come across. It is well worth it to expose oneself to his viewpoint.
0 of 0 people found the following review helpful.
A steep learning experience
By VLADIMIR BRANKOV
This is the best and the hardest book on probability I have ever seen. It is extremely dense and rigorous so it requires the reader to think hard. It has plenty of examples which are often so complex to present sub topics on their own.
This is not a book for people who need only basics.
19 of 19 people found the following review helpful.
Great book for advanced students in probability
By Ilya Shutman
As many reviewers have pointed out, this book may be too advanced for a beginner student, but it is truly the best for a graduate student or anyone else with solid background in Mathematics and some knowledge of Probability. When I took the course based on this book I already covered Advanced Calculus (Rudin) and college-level Probability and Statistics (DeGroot), and I just loved this book. Ten years later I still use it; just a few weeks ago I needed to familiarize myself with Brownian bridges and it took me only 10 minutes with the book to get all I need to know - the concepts, the formulas, the applications - to the extent I could explain it to my teammates.
I wouldn't recommend this book as the introduction to probability, but for a serious student of mathematics this is a great book to further the understanding of probability and prepare for advanced studies in Stochastic Calculus.
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