Stochastic modelling is the development of mathematical models for non-deterministic physical systems, which can adopt many possible behaviours starting from any given initial condition.

The Stochastic Modelling definition states that this is a form of financial model that helps investors and portfolio managers make informed financial or investment decisions. Stochastic Modelling ...

Fundamental concepts of probability theory; modeling and analysis of systems having random dynamics, and in particular, queueing systems. Homework, exams and problem-solving sessions. This course is a ...

An introduction to the theory, algorithms, approximations, and applications of stochastic processes. Topics studied include Markov chain and continuous and continuous time Markov process models and ...

Advanced study in Markov chain and continuous time Markov process models and applications, renewal processes, Brownian Motion,analytical and numerical approximation methods, Markov decision processes ...

The stochastic alpha beta rho model is a stochastic volatility model for forward prices commonly used in the modelling of interest rate derivatives. The alpha, beta and rho in the name are parameters ...