Bücher von Raimondo Manca

After a presentation of the main probabilistic tools necessary for understanding of the book, the authors show how to apply semi-Markov processes in finance, starting from the axiomatic definition and continuing eventually to the most advanced financial tools.

Aims to give to the reader the tools necessary to apply semi-Markov processes in real-life problems. This book presents homogeneous and non-homogeneous semi-Markov processes, as well as Markov and semi-Markov rewards processes. It provides the reader knowledge of semi-Markov processes.