Book Description
Monte Carlo simulation has become an essential tool in the pricing of derivative securities and in risk management. These applications have, in turn, stimulated research into new Monte Carlo methods and renewed interest in some older techniques.
This book develops the use of Monte Carlo methods in finance and it also uses simulation as a vehicle for presenting models and ideas from financial engineering. It divides roughly into three parts. The first part develops the fundamentals of Monte Carlo methods, the foundations of derivatives pricing, and the implementation of several of the most important models used in financial engineering. The next part describes techniques for improving simulation accuracy and efficiency. The final third of the book addresses special topics: estimating price sensitivities, valuing American options, and measuring market risk and credit risk in financial portfolios.
The most important prerequisite is familiarity with the mathematical tools used to specify and analyze continuous-time models in finance, in particular the key ideas of stochastic calculus. Prior exposure to the basic principles of option pricing is useful but not essential.
The book is aimed at graduate students in financial engineering, researchers in Monte Carlo simulation, and practitioners implementing models in industry.
Mathematical Reviews, 2004: "... this book is very comprehensive, up-to-date and useful tool for those who are interested in implementing Monte Carlo methods in a financial context."
Customer Reviews:
Review for Monte Carlo Methods... by P. Glasserman.......2007-07-16
The book is just right for a reader who is looking for state-of-the-art techniques in Monte-Carlo methods in general. The fact that the book is specific to financial systems does not limit the usability of the book in the manner it is written. There are a lots of useful references one can get out of this book.
The book is for advanced readers in the sense that it requires rigorous mathematical ability to understand all the concepts. It is by no means for a novice reader and requires background in computational mathematics.
Best financial engineering book on MC.......2007-06-29
This is like the bible of Monte Carlo methods in financing. Both a good read and a good reference book. Must have! for any quant on wall street.
good book on Monte Carlo in Finance.......2007-04-02
But it seems the author is a little focused on selling his ideas, but not a very subjective overview of all topics in M-C method in finance.
Excelent choice on finance Monte Carlo.......2007-03-08
Clear and sound theoretical background on applied Monte Carlo for finance.
Brilliant.......2006-12-26
Almost everything related to Monte Carlo in Financial Engineering is covered at just the right level of detail. Quite easy to read too.
Customer Reviews:
Good for the real world too.......2007-03-02
This book was meant for use within a university classroom setting.
Surprisingly, unlike most textbooks, you can actually use this book in the real world. For example, a lot of business plan books and articles casually mention business forecasting. Unfortunately, the large majority of them barely mention any details on how to construct them. Well this book covers it in depth. As for other applications with the use of MS Excel, the book will show you the optimal amount of money you should put down into a select number of investments, how to perform project scheduling (with out MS Project), and the list goes on....
This is a good book.
Book Description
With Statistics for Management, Levin and Rubin have provided a non-intimidating business statistics book that users can easily read and understand. Like its predecessors, the seventh edition includes the absolute minimum of mathematical/statistical notation necessary to teach the material. Concepts are fully explained in simple, easy-to-understand language as they are presented, making the book an excellent source from which to learn and teach. After each discussion, readers are guided through real-world examples to show how book principles work in professional practice.
Includes easy-to-understand explanations of difficult statistical topics, such as sampling distributions, relationship between confidence level and confidence interval, interpreting r-square. A complete package of teaching/learning aids is provided in every chapter, including chapter review exercises, chapter concepts tests,"Statistics at Work" conceptual cases, "Computer Database Exercises", "From the Textbook to the Real-World Examples."
Customer Reviews:
WORTH PRAISING.......2006-07-14
THIS HAD BEEN A PRESCRIBED TEXT BOOK FOR STATISTICS IN MY MBA. I REALLY LOVED READING THIS BOOK. ENJOYED SOLVING THE PROBLEMS.
ABSOLUTELY NECESSARY FOR ALL STATISTICS STUDENTS AND PROFESSORS TO OWN.
ARUN
The best part of the book was the curve fitting algorithms.......2003-03-20
Listen Software Solutions: I found the book to be easy to understand and packed with alot of step by step illustrations. Using the samples and easy to follow instructions such as concepts like Least Square Approximation and Multiple Regression Model techniques, I felt comfortable in solving my trend analysis problems. The authors do not overwhelm the reader with advanced mathematical notation but instead provide an learn by example method to their teaching. After each chapter, a number of homework problems are available, for the the student to try. This is a great college textbook to learn business statistics from. I used the textbox to learn how to program MFC VC++ curve fitting alogrithms for a stock trends analysis algorithm. I must say the internet has a ton of material, however, this book provided me the clearest explanations and helped me gain the greatest understanding of my curve fitting solutions.
Great choice for beginner.......2001-10-24
The text is very easy to understand. The case study is great as well as the exercises.
Great book for a business student.......2000-08-24
Great book and also "great" price
Book Description
Discover everything you need to succeed in business statistics class. MANAGERIAL STATISTICS: A CASE-BASED APPROACH walks you through the topic using relevant examples and applications. And with numerous Harvard Business School cases and end-of-chapter review tools, you'll master the concepts quickly and easily. Learning how to use statistics and regression analysis has never been simpler. Start succeeding today with MANAGERIAL STATISTICS: A CASE-BASED APPROACH.
Customer Reviews:
Elementary but good..........2007-03-20
Crisp and well written. Powerful concepts explained very well. A must for managers to understand basic stats.
I thought I'll use it for my statistics course and sell it as used later... I decided to keep it. Good, handy reference.
Book Description
This book takes recent theoretical advances in Finance and Economics and shows how they can be implemented in the real world. It presents tactics for using mathematical and simulation models to solve complex tasks of forecasting income, valuing businesses, predicting retail sales, and evaluating markets and tax and regulatory problems. Business Economics and Finance with Matlab, GIS, and Simulation Models provides a unique overview of sophisticated business and financial applications. It describes models that have been developed for analysis of retail sales, tax policy, location, economic impact, public policy issues, and other challenges faced by executives, investors, and economists on a daily basis. It also offers groundbreaking insight into the many calculation and modeling tools that can be remotely hosted and run over the Internet, resulting in substantial user benefits and cost savings. This book is the first to fully explore the capabilities of MATLAB in the field of business economics, and explain how the benefits of sophisticated mathematical models can be provided to users via the Internet, using a thin-client environment. Many techniques directly incorporate geographic information and GIS in a way that was impossible until quite recently. Some techniques, such as fuzzy logic, retail sales, economic and fiscal impact models, and other Matlab and Simulink models, are described for the first time in print in this book. The sections on business income and value break new ground by directly incorporating uncertainty, real option value, and prediction of variables using Ito and jump processes. Using dozens of examples, hundreds of references, and rigorous explanations of both theory and practice, it will become a prized reference for analysts demanding the best techniques.
Customer Reviews:
A great book that fills the gap.......2004-09-21
As a doctoral student in Finance, I use Matlab a lot for modeling and computation. I had been searching for a reference book that can help me build simulation models using SIMULINK. But the only books available are in specialized fields such as physics or engineering. Patrick Anderson's book attract me immediately by its title. A combination of MATLAB, SIMULATION, GIS and Economics-- that's exactly what I was looking for. It managed to keep up with my high expectation with its highly informative content. The examples given were very well selected and close to application, corresponding Matlab code were neat. It kept surprising me with bonus tricks in using MATLAB(such as getting yahoo stock time seres directly using Matlab, creating XML files), which themselves are well worth the price. I recommend this book to researchers or analysts who want to stand at the frontier of business evaluation, and those who want to exploit the power of Matlab in business forecasting.
Guide to multifaceted simulation analysis.......2004-08-30
This book appeals to me for several reasons. It discusses sophisticated methods of valuing business enterprises, and critiques competing models with a matter-of-course approach. The reader is given the perspective and reference to related work. Pitfalls of prejudiced and lackadaisical estimation are shown with neat examples.
On the technical side, experienced MatLab users find good ready-to-implement tools, code segments, and references in the book. The book encourages the use of simulation analysis, and brings it down from its pedestal to business-management level as part of a standard business-planning procedure. Given the traditional disregard for detailed GIS data (springing from the absence of software and expertise), this book also brings up the role of multifaceted geography in business performance and strategy. While not a textbook in GIS methods, it fills a gap in reference literature and shows how loaded the concepts are.
Excellent instruction and reference .......2004-08-17
Anderson's book is equal parts course and reference guide for using Matlab and simulation models for business and economic analysis. It offers material for both those who have a strong understanding of the programs (though may be relatively new to economic, financial, or market analysis), and those who are just getting started with the program.
The book's greatest strength is the material on Matlab and simulation modeling, combined with the insight the author provides from his extensive experience as a consultant and industry economist.
It should be noted that this book is not an extensive guide to Geographic Information Systems (GIS). Although the book provides many helpful examples, and advice on incorporating GIS into business and economic analyses, this is not its emphasis. However, what it lacks in instruction in the area of GIS, it more than makes up for in its other content.
In all, this book is highly recommended. It provides fantastic instruction and reference in using Matlab and simulation modeling tools for business and economic analysis.
Great book for business economists.......2004-08-06
Most of the applied economic and finance books using a complicated software are very technical and not practical at all. Even though Anderson's book is very technical, it is very practical for business economics. Anderson's book is well-written and sophisticated but easy-to-read and follow. As a MATLAB user, I think this book is very helpful and user-friendly. Anderson provides many real-life examples from his work engagements. This will be one of the pillar books in every business economists' library.
Customer Reviews:
A great Reference source.......2003-03-27
This almanac uses 50 performance indicators to compare financial information on 192 industries. Industries included in this reference work include agricultural production, coal mining, ship and boat building, electrical contractors, fruit and vegetable preserving and specialty food manufacturing, and furniture and related product information. The information listed on these industries is in numerical format and includes revenue (such as net sales, rents, roytalties) operating costs (such as taxes paid, advertising, operating margin) and selected financial ratios (such as total asset turnover, inventory turnover, cash flow to total debt). ....
Average customer rating:
- The worst one among intro statistics books.
- wow
- The Worst Book on the Planet
- The worse book about statistics
- A muddled mess
|
Statistical Thinking for Managers (Business Statistical)
David Hildebrand , and
R. Lyman Ott
Manufacturer: South-Western College Pub
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ASIN: 0534204066 |
Book Description
Focusing on the analysis of data using modern statistical and spreadsheet software, Hildebrand and Ott emphasize making sense of data and discuss not only how a statistical method is applied, but why and why not. Throughout the book, the authors integrate computer use into the development of statistical concepts, emphasizing the value of looking at data to make sure the right questions are being asked. The real-life applications and examples throughout challenge students to think like managers. The case that concludes every chapter asks students to deal with a relatively unstructured situation and to explain the statistical reasoning in nontechnical language. Modern statistical methods, including resampling and bootstrapping are included. In addition, the authors emphasize quality control and improvement throughout the book and include three full chapters on regression and correlation methods.
Customer Reviews:
The worst one among intro statistics books........2004-07-11
My MBA class (top 20 program)used this book. But even my instructor did not recommend us to read this book. Instead he just taught class with his own hand-out. We only used this book for exercise problems. There were students who had many years of research experience. But they even complained about this book and recommended me to read Anderson's " Statistics for Business and Economics". Anyway, I think if you have a good instructor it is O.K. Otherwise I am sure that it will be very painful. Gook luck.
wow.......2004-01-29
You better hope you have a good teacher. Don't use it as a last resort to study, if you can even find where a certain topic starts, its nearly impossible to follow.
The Worst Book on the Planet.......2003-04-11
DO NOT BUY THIS BOOK!
This by far the worst book I have come accross in my life.
I am a mechanical engineer taking statistics for my MBA. Fortunately I have a very good intstructor so I dont even use the book.
Its worthless. Seems like the author is talking to himself.
The worse book about statistics.......2003-02-01
Do NOT buy this book. I am sure the author understands a lot about statistics but he definitely does not know how to organize its ideas. The book makes the subject appear much more complex than it really is. If you need to learn statistics are not a Statistics PhD student then what I really recommend you to do is to get another book. For MBA students: This book is way more complex than you will need to know for your studies.
A muddled mess.......2002-06-19
It's hard to believe that a Wharton professor produced this book but I guess it's just proof that no school is perfect. I'm sure the authors understand statistical analysis but they have no clue how to organize the material or communicate what they know effectively. Honestly, even if you have learned the concepts for a chapter through another source this book can be hard to follow.
Want an example of the murky text? Try this typical run-on sentence quoted directly from the book. "In the same way, the normal random variable is an abstraction, because in theory any numerical value, negative as well as positive, is possible, and the probability histogram is a smooth, symmetric, bell-shaped curve." Try stringing together 800 pages of similar prose and you have an idea what awaits you here.
I watched an entire class including the professor disown this book because it was useless. Do yourself a favor and avoid this turkey if at all possible.
Customer Reviews:
Good Beyond the Classroom.......2007-03-02
This book was meant for use within a university classroom setting.
Surprisingly, unlike most textbooks, you can actually use this book in the real world. For example, a lot of business plan books and articles casually mention business forecasting. Unfortunately, the large majority of them barely mention any details on how to construct them. Well this book covers it in depth. As for other applications with the use of MS Excel, the book will show you the optimal amount of money you should put down into a select number of investments, how to perform project scheduling (with out MS Project), and the list goes on....
This is a good book.
Customer Reviews:
Poorly Written and Confusing.......2004-12-22
This book does not help with understanding statistics. The examples are confusing and often point out a problem but never solve or resolve the problem. Don't buy this book!
Excellent Undergraduate-Level Stats/Excel Book.......2003-11-02
This textbook combines good readability and yet is also relatively detailed. Statistics For Managers Using Excel 3E is well organized, with plenty of examples that make understanding the concepts easy. The problems at the end of the Chapter are excellent at drilling the concepts in student's heads, and the companion CD is also useful.
I will agree with the reviewers that mentioned the errors. There ARE some errors in this book, but overall compared to most other texts there are NOT a lot of them relatively speaking.
Overall, an excellent textbook for students taking a beginning undergraduate level Stats course.
Blech - lots of errors, poor writing.......2003-09-13
I'm only through chapter 3, but I've found
* inconsistancies - not using the same term in the same manner; all through the chapter, it refers to class boundaries, but in the excersizes, they are called bins - you have to check out the solutions manual and figure out what they are asking for.
* circular definitions - using the term in the definition of the term you are describing (ie, frumious = being frumious)
* poor examples - when describing how to use an excel wizard to process data, it tells you to select E5:E12 - without describing what this range is supposed to be (bins? midpoints? data?)
* incorrect answers in the solution manual (some are right, some are not)
* PHStat does not function as specified in the book in all cases (ie, percentage polygons)
Frankly, the book is a big waste of cash, and should not be selected as a book to be used for statistics classes - unfortunately, neither the students nor the profs at the school I'm attending had a choice. I'm having a hard time believing this is a THIRD edition, with all the errors. Either the authors or the publishers can screw up on a first edition, but it takes an effort for both to do it, much less three times.
Too bad you can't give negative star reviews.
Not bad, I guess..........2002-12-22
There is a newer edition out. However, the good thing about this one is the fact that they got a good Excel Section.
Bring on the confusion and mistakes.......2002-11-06
A worse textbook I have not seen. It's riddled with mistakes and misprints. The authors should be ashamed. The examples are virtually impossible to follow. Unfortunately, most students don't have a choice but if you do go with Statistical Techniques in Business and Economics (Mason, Lind & Marchal).
Book Description
Managerial Epidemiology for Health Care Organizations provides readers with a thorough and comprehensive understanding of the application of epidemiological principles to the delivery of health care services and management of health care organizations. As health administration becomes evidence- and population-based, it becomes critical to understand the impact of disease on populations of people in a service area. This book also addresses the need of health organizations’ to demonstrate emergency preparedness and respond to bioterrorism threats. A follow-up to the standard text in the field, this book introduces core epidemiology principles and clearly illustrates their essential applications in planning, evaluating, and managing health care for populations. This book demonstrates how health care executives can incorporate the practice of epidemiology into their various management functions and is rich with current examples, concepts, and case studies that reinforce the essential theories, methods, and applications of managerial epidemiology.
Books:
- New Directions for Organization Theory: Problems and Prospects
- New Manufacturing Challenge: Techniques for Continuous Improvement
- Operating System Concepts
- Performance Dashboards: Measuring, Monitoring, and Managing Your Business
- Physical Asset Management Handbook
- Principles Of Operations Management and Student CD (6th Edition)
- Principles Of Operations Management and Student CD (6th Edition)
- Principles Of Operations Management and Student CD (6th Edition)
- Principles of Project Finance
- Production and Operations Analysis with Student CD
Books Index
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