# Stopped Random Walks [electronic resource] : Limit Theorems and Applications / by Allan Gut.

##### By: Gut, Allan [author.].

##### Contributor(s): SpringerLink (Online service).

Material type: TextSeries: Springer Series in Operations Research and Financial Engineering: Publisher: New York, NY : Springer New York, 2009Description: XIV, 263 p. online resource.Content type: text Media type: computer Carrier type: online resourceISBN: 9780387878355.Subject(s): Distribution (Probability theory | Probability Theory and Stochastic Processes | Operations Research, Management ScienceAdditional physical formats: Printed edition:: No title; Printed edition:: No title; Printed edition:: No titleDDC classification: 519.2 Online resources: Click here to access onlineLimit Theorems for Stopped Random Walks -- Renewal Processes and Random Walks -- Renewal Theory for Random Walks with Positive Drift -- Generalizations and Extensions -- Functional Limit Theorems -- Perturbed Random Walks.

Classical probability theory provides information about random walks after a fixed number of steps. For applications, however, it is more natural to consider random walks evaluated after a random number of steps. Stopped Random Walks: Limit Theorems and Applications shows how this theory can be used to prove limit theorems for renewal counting processes, first passage time processes, and certain two-dimensional random walks, as well as how these results may be used in a variety of applications. The present second edition offers updated content and an outlook on further results, extensions and generalizations. A new chapter introduces nonlinear renewal processes and the theory of perturbed random walks, which are modeled as random walks plus "noise". This self-contained research monograph is motivated by numerous examples and problems. With its concise blend of material and over 300 bibliographic references, the book provides a unified and fairly complete treatment of the area. The book may be used in the classroom as part of a course on "probability theory", "random walks" or "random walks and renewal processes", as well as for self-study. From the reviews: "The book provides a nice synthesis of a lot of useful material." --American Mathematical Society "...[a] clearly written book, useful for researcher and student." --Zentralblatt MATH.

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