Product Description
Although not as glamorous as vehicles such as the Panther and Tiger, the Panzer IV formed an extremely important part of the German armoured forces during World War II. This title provides detailed 1/72-scale build articles on a Panzer IV Ausf. H in winter camouflage, a Jagdpanzer IV, a late-version Sturmpanzer IV, a final version Sturmgeschütz IV, and a Flakpanzer IV Wirbelwind. Conversions, interior detailing, kit-bashing, adding aftermarket figures and parts, finishing and weathering, plus special scale techniques are all covered in detail. A gallery section also features Panzer IV Ausf. H, Panzer IV L/70 (V), and Panzer IV L/70 (A) variants. ... Read more

Customer Reviews (4)

A Dream for Small Scalers!
This is the first book that deals with assembling many Panzer IV variants in 1/72 scale. Mr. Clark shares with us his knowhow concerning assembling, gluing, converting, painting, detailing and scratchbuilding many Panzer IVs in many stages, from the beginner to a master modeler. Colour chips and some pictures from a Wirbelwind variant are included. Definitively highly reccomended to everyone interested in 1/72 scale armor.

Modelling the Panzer IV in 1/72 Scale
This is one of the best modelling books I have ever purchased.If features clearly written descriptions of excellent modelling techniques appropriate to the small scale of the subject.The models included are superbly built, well displayed, and beautifully photographed.I will definitely purchase other books by this author, and would like to see more Osprey Modelling armor titles devoted exclusively to 1/72 scale.

Outstanding in every way!
What an amazing resource.This book basically contains walkthroughs as the author builds two Panzer IVs, a Jagdpanzer IV, a Sturmpanzer IV, a Sturmgeschutz IV, and a Flakpanzer IV (with some more info on two other Panzer IV variants as well!), each taking the difficulty level higher.Information about Revell kits, aftermarket details (resin, metal, and photo-etched), scratchbuilding, interiors, and even diorama creation are all covered, as well as various types of paint schemes.There are even a couple pages with photos of a preserved Flakpanzer taken with a modelers eye.Almost 80 pages packed of well-written information in a small font provide insight without getting bogged down in basics.And the author is certainly up to the task of creating models that inspire and awe.The only complaint is that the images are mostly very tiny - 1/72 scale modelers certainly expect to strain their eyes, but this is a little much.

If you are interested in building 1/72 models of WWII German armored vehicles, I cannot recommend this book enough.

Amazing
This is the first book I came accross that is dedicated to 1/72 scale armour models. It presents a good coverage on the common variants of the famous German tank (Panzer IV). The models presented in the book were constructed with painstaken blinding details (these models are only about 2 inches long!). The book explains many techniques, such as casting and painting, to produce the details in the the models. I recommand this book to any serious modeller who is interested in the small scales. ... Read more

Product Description
The Tiger has proved to be one of the most popular modelling subjects of all time, with a vast and ever-increasing range of kits, aftermarket products and references available. Probably the most famous tank of World War II, the Tiger was designed in response to the German Army's fighting experience in Western Europe, North Africa and Russia. Armed with the most powerful German gun, the famous 88mm, the Panzer VI Tiger was intended to dominate the battlefield from the East to the West.

In this book, some of the world's most talented modellers cover six separate Tiger projects, their work illustrated by a collection of step-by-step color photographs detailing everything from insignia to battle damage in a variety of combat theaters to illustrate the Tiger's full wartime experience. With varying degrees of difficulty, this will appeal to both experienced modelling enthusiasts and newcomers attempting their first project. ... Read more

Customer Reviews (4)

Great choice for this Tiger I fan
Owning more than my share of the Osprey Modelling series, this is one of their better efforts. Edmundson is a master modeler and the various projects detailed in this book are both inspiring and instructional. A must-have for armor modelers out there.

You can get a lot of information and inspiration from
this little book. Edmundson is one of my favorite armor modeling authors. He is too focused on accuracy of detail for my building philosophy, but that does not detract from the appreciation of his awesome builds, painting and WAD (weathering, abuse, damage) he represents on his vehicles. I've been inspired by his published works and recommend them to you highly. There are insights and techniques to be had with this volume, and that alone is worth the price (not to mention the pictures).

As good as it gets, but let down by the very limiting format Osprey uses
I own nearly every one of the Modelling Manual titles produced because I love the work presented, the inspiration I gain, and there are always great tips and ideas to skim from each work. However, the small size severely limits photo size and text amount, thus minimizing instead of maximizing the potential of this series. This title in particular uses the most recent kit releases, aftermarket accessories, and latest info regarding the Tiger I tank. Limited in scope and detail by the overly strict Osprey format, this is otherwise an excellent session on how to super detail the 1/35 Dragon Tiger I kits. While I love David Parker's Tamiya 1/16 version (and nothing against his superb piece), I found it an odd addition from a scale modelling perspective and was disappointed to not see any of the new 1/48 kits attempted or a rework of the older 1/35 Tamiya kit (which still occupy a large portion of modeler's shelves). With Alex Clark's equally impressive Tiger in 1/72 title I guess the 1/48 guys are out of luck. With that said, however, any of these techniques and ideas can be easily applied across any scale and kit.

I am finding more and more today as I build my own models that these manuals are best used in conjunction with more dedicated reference like the Actung Panzer series from Japan or "The Modeler's Guide to the Tiger Tank" from Ampersand Pub., which go much, much further into the specific details and their relative time tables regarding each variant. The real strength of these Osprey titles is that it shows the modeler to a good extent what is needed to achieve the best in accuracy and detail and this is born true with this Tiger I title. To physically see what is required on each model to arrive at said result is still very helpful to the end user and as such are good to have on the book shelf.

Highly recommended for the intermediate to advanced crowd (and very inspirational for those just getting started if not a little intimidating), but it is time for Osprey to rethink the format and expand the graphics and layouts to maximize the potential from each modeler. A boatload of work has gone into these models with too few photos that are too small with much too abbreviated text to really delve into the how and why of each build. A strong 4 out of 5 mainly for the shear modeling talent presented, a superb choice of authors whose work is undoubtedly some of the best in the world. Bravo guys, great job.

A survey which will appeal to military libraries and crafts collections alike.
G. Edmundson, D. Ned, D. Parker, D. Thompson and S. VanBeveren's MODELLING THE TIGER I contributes to the 'Osprey Modelling' series offering modelers expect advice on how to model the Riger I, the most famous tank of World War II. Discussions of kits, after market products and history feature six different projects in a survey which will appeal to military libraries and crafts collections alike. ... Read more

Product Description

The numerical analysis of stochastic differential equations (SDEs) differs significantly from that of ordinary differential equations. This book provides an easily accessible introduction to SDEs, their applications and the numerical methods to solve such equations.

From the reviews:

"The authors draw upon their own research and experiences in obviously many disciplines... considerable time has obviously been spent writing this in the simplest language possible." --ZAMP

Customer Reviews (2)

A reference book in the domain
Much literature is published on numerical methods for stochastic differential systems but most of it focuses on their use in pricing financial products. There is genuinely a lack of reference books that provide a stronger mathematical basis for the domain. Luckily, this is one of the few books that fill that gap. An excellent book, although the scope of numerical methods presented is limited.

Excellent
This book is one of the finest written on the subject and is suitable for readers in a wide variety of fields, including mathematical finance, random dynamical systems, constructive quantum field theory, and mathematical biology. It is certainly well-suited for classroom use, and it includes computer exercises what are definitely helpful for those who need to develop actual computer code to solve the relevant equations of interest. Since it emphasizes the numerical solution of stochastic differential equations, the authors do not give the details behind the theory, but references are given for the interested reader.

As preparation for the study of SDEs, the authors detail some preliminary background on probability, statistics, and stochastic processes in Part 1 of the book. Particularly well-written is the discussion on random number generators and efficient methods for generating random numbers, such as the Box-Muller and Polar Marsaglia methods. Both discrete and continuous Markov processes are discussed, and the authors review the connection between Weiner processes (Brownian motion for the physicist reader) and white noise. The measure-theory foundations of the subject are outlined briefly for the interested reader.

Part 2 begins naturally with an overview of stochastic calculus, with the Ito calculus chosen to show how to generalize ordinary calculus to the stochastic realm. The authors motivate the subject as one in which the functional form of stochastic processes was emphasized, with Ito attempting to find out just when local properties such as the drift and diffusion coefficients can characterize the stochastic process. The Ito formula is shown to be a generalization of the chain rule of ordinary calculus to the case where stochasticity is present. The authors are also careful to distinguish between "random" differential equations and "stochastic" differential equations. The former can be solved by integrating over differentiable sample paths, but in the latter one has to face the nondifferentiability of the sample paths, and hence solutions are more difficult to obtain. The authors give many examples of SDEs that can be solved explicitly, and prove existence and uniqueness theorems for strong solutions of the SDEs. And since ordinary differential equations are usually tackled by Taylor series expansions, it is perhaps not surprising that this technique would be generalized to SDEs, which the authors do in detail in this part. They also outline the differences between the Ito and Stratonovich interpretations of stochastic integrals and SDEs.

Part 3 is definitely of great interest to those who must develop mathematical models using SDEs. The authors carefully outline the reasons where Ito versus the Stratonovich formulations are used, this being largely dependent on the degree of autocorrelation in the processes at hand. The Stratonovich SDE is recommended for cases when the white noise is used as an idealization of a (smooth) real noise process. The authors also show how to approximate Markov chain problems with diffusion processes, which are the solutions of Ito SDEs. Several very interesting examples are given of the applications of stochastic differential equations; the particular ones of direct interest to me were the ones on population dynamics, protein kinetics, and genetics; option pricing, and blood clotting dynamics/cellular energetics.

After a review of discrete time approzimations in ordinary deterministic differential equations, in part 4 the authors show to solve SDEs using this approximation. The familiar Euler approximation is considered, with a simple example having an explicit solution compared with its Euler approximate solution. They also show how to use simulations when an explicit solution is lacking. The importance notions of strong and weak convergence ofthe approximate solutions are discussed in detail. Strong convergence is basically a convergence in norm (absolute value), while weak convergence is taken with respect to a collection of test functions. Both of these types of convergence reduce to the ordinary deterministic sense of convergence when the random elements are removed.

The discussion of convergence in part 4 leads to a very extensive discussion of strongly convergent approximations in part 5, and weakly convergent approximations in part 6. Stochastic Taylor expansions done with respect to the strong convergence criterion are discussed, beginning with the Euler approximation. More complicated strongly convergent stochastic approximation schemes are also considered, such as the Milstein scheme, which reduces to the Euler scheme when the diffusion coefficients only depend on time. The strong Taylor schemes of all orders are treated in detail. Since Taylor approximations make evaluations of the derivatives necessary, which is computational intensive, the authors discuss strong approximation schemes that do not require this, much like the Runge-Kutta methods in the deterministic case , but the authors are careful to point out that the Runge-Kutta analogy is problematic in the stochastic case. Several ofthese "derivative-free" schemes are considered by the authors. The authors also consider implicit strong approximation schemes for stiff SDEs, wherein numerical instabilities are problematic. Interesting applications are given for strong approximations for SDEs, such as the Duffing-Van der Pol oscillator, which is very important system in engineering mechanics and phyics, and has been subjected to an incredible amount of research.

More detailed consideration of weak Taylor approximations is given in part 6. The Euler scheme is examined first in the weak approximation, with the higher-order schemes following. Since weak convergence is more stringent than strong convergence, it should come as no surprise that fewer terms are required to obtain convergence, as compared with strong convergence at the same order. This intuition is indeed verified in the discussion, and the authors treat both explicit and implicit weak approximations, along with extrapolation and predictor-corrector methods. And most importantly, the authors give an introduction to the Girsanov methods for variance reduction of weak approximations to Ito diffusions, along with other techniques for doing the same. Those readers involved in constructive quantum field theory will value the treatment on using weak approximations to calculate functional integrals. The approximation of Lyapunov exponents for stochastic dynamical systems is also treated, along with the approximation of invariant measures. ... Read more

Product Description
As interest rate markets continue to innovate and expand it is becoming increasingly important to remain up-to-date with the latest practical and theoretical developments. This book covers the latest developments in full, with descriptions and implementation techniques for all the major classes of interest rate models — both those actively used in practice as well as theoretical models still ‘waiting in the wings. Interest rate models, implementation methods and estimation issues are discussed at length by the authors as are important new developments such as kernel estimation techniques, economic based models, implied pricing methods and models on manifolds. Providing balanced coverage of both the practical use of models and the theory that underlies them, Interest Rate Modelling adopts an implementation orientation throughout, making it an ideal resource for both practitioners and researchers. "Interest Rate Modelling is an encyclopedic treatment of interest rates and their related financial derivatives. It combines advanced theory with extensive and down-to-earth data analysis in a way which is truly unique. For practitioners, students and scholars in the field, this impressive work will be the standard reference for years to come." Professor Tomas Björk, Stockholm School of Economics "… an excellent book. I am particularly pleased by its breadth and range of topics… the reader is provided with an informative and readable exposition." Dr Farshid Jamshidian, NetAnalytic "I particularly like the strong emphasis on the practicalities and calibration of interest rate models. This book will be invaluable as a comprehensive reference to students, researchers, and practitioners." Professor Francis Longstaff, The Anderson School at UCLA "This is a carefully written, scholarly but fascinating presentation of the field of Interest Rate Modelling. It combines the best of two worlds: the rigour expected from finance in academia with the relevance expected from finance in practice. James and Webber are truly masters of their market since this book is surely a must-buy for both researchers and practitioners. If only all finance books were written with this care and attention to detail." Dr Neil Johnson, Clarendon Laboratory, Oxford "Today, interest rates are key economic instruments. This is a mammoth treatise and must surely rank as one of the most comprehensive available on the topic. Anyone interested in modelling or simulating the behaviour of interest rates, be they practitioner, economist, mathematician or new entrant to the subject, will find within a wealth of pertinent material." Professor Peter Richmond, Trinity College Dublin ... Read more

Customer Reviews (7)

Good explained yield curve fitting
List different way of yield curve fitting method, and good explain why B-spline
is good. Also term structure on general manifold is interesting, although a review don't
think it's useful.

Could have been very good. A new edition could earn 5 stars.
While very ambitious and containing some very good material, I think there are too many errors, typos, and gaps in this book. For example, the derivation of equation (3.20) on page 43, a not insignificant result on swap rates, is embarrasingly wrong. They make 2 fundamental errors in equations (3.15) and (3.16) and appear fortunate to arrive at (3.20) which is correct. These errors are not mere typos. Their examples related to the concept of a filtration on top of page 58 appear to be wrong. Elsewhere in the book notation is often used inconsistently and without adequate definition. There are also gaps. For example, when discussing volatility structures in Section 16.1, they use equation (16.6) (which is correct) in a number of examples, but I could not find where they actually derived that equation. (It should have been in the HJM chapter) but was not there.

I like the fact that they wanted to include a chapter on term structures from the macro-economic perspective. Unfortunately this chapter is difficult to read, provides no macroeconomic intuition and again appears to omit too many details. For example, the description of the IS-LM-Phillips model is inadequate and either should be expanded or dropped from future editions. Likewise, the description of the Sommer model is inadequate. Equation (11.3) in the statement of Sommer's Theorem would appears to be wrong at first sight. The left-hand-side of that equation is known by time t, but the right-hand-side would appear to be UNknown by time t. This apparnet contradiction can be explained but the authors never comment on such matters, often making the material more difficult to follow.

Chapter 17 on GMM and MLE methods is quite nice but again, not everything is adequately explained. The examples of Section 17.2.5, for example, seem to assume that certain variables are observable in the market place (e.g. volatility, v_t in equation 17.38) but this seems inapproriate as v_t would generally be unobservable. Indeed this is stated in Chapter 18. Again, however, James and Webber provide no clarification whatsoever of this issue, leaving the reader to wonder what exactly was done.

Some sections are also poorly motivated. For example, Section 16.4, "Processes on Manifolds", in the chapter on Principal Components Analysis is not motivated properly. While the material is quite straightforward to read (though they should define terms like diffeomorphism if they want to use them in a financial engineering text), it is not clear why you need to bring in the language of manifolds and tangency spaces etc. After all, where is this material used in the example of Section 16.4.5? It seems to me that the examples of Section 16.4 are interesting and do lead to new types of term structure models, but that this material could be presented without the jargon of manifolds. Again, I may be wrong but then I would blame the authors for not writing clearly.

A final criticism is that it seems on occasion that the authors are writing about material that they are not particularly familiar with, all for the sake of being encyclopedic. This thought crossed my mind when reading the chapter on Monte Carlo simulation. For example, with reference to equations (13.11)-(13.13) it would have taken very little to point out that Jensen's Inequality implies that some estimated security prices will be biased. Indeed the authors hint at this in the final paragraph on page 350 but do not make the point.

There are many other examples of these errors / typos / gaps in the book. And as far as I know there is no list of errata available.

I will not mention the many good things in this book as other reviewers have already done so. However, I think their praise has been excessive and feel that 3 stars is appropriate.

A real must !
As a math grad student who is interested in the term structure modelling, I found that this book is really useful! It just tells you everything about interest rate modelling,not just for the no-arbitrage modelling issue, they even have a chapter about the macroeconomic foundation for interest rate fluctuation! The math used in this book is very concise without too much measure theory twaddle,Everyone who works in this field should have a copy. It's a real must!

A must-have encyclopedia on term structure modeling
I have spent a number of years in building & implementing models for interest-rate-dependent claims, but should admit: I learned more from this book.I view it as an encyclopedia on the subject, in which the authors (never heard their names before - what a shame!) have done an excellent job on reviewing hundreds of publications.The theory of term structure modeling has been grown to a separate subject - thanks to Hull and White, Jamshidian, HJM, BGM, Hughston - among main contributors.You can find all methods in one place and in a very accesible form.For example, HJM is described better and simpler than in the author's original paper.Most models are reviewed with practical implementation in mind.

It is not a "first book" on "introduction" on the subject; it is rather a good desk reference for prepared professionals.

Extraordinary
There are plenty of books on fixed income mathematics. This one is extraordinary. It is simultaneously practical, theoretically sophisticated and a pleasure to read. The treatment of term-structure models, including HJM, is the most accessible I have seen anywhere. There is a lot of information on yield curve building. This includes both bootstrapping and more recent research in parameterised curves. There are plenty of topics that other books might label "beyond the scope of ...", but James and Webber jump right in, with meaty discussions of the Kalman filter, lattice methods of valuation and GARCH models. Despite all the theory, the authors are always in touch with practical details. They take into account stub dates, and are precise about day counts. These are obviously practitioners! ... Read more

Product Description
Modelling of Concrete Performacedeals with the long-term performance of concrete.The author describes an integrated theoretical and computational platform from which to examine and assess the quality and structural durability of concrete at an early age.This book will appeal to both the academic and professional. ... Read more

Product Description
Data-analytic approaches to regression problems, arising from many scientific disciplines are described in this book.The aim of these nonparametric methods is to relax assumptions on the form of a regression function and to let data search for a suitable function that describes the data well. The use of these nonparametric functions with parametric techniques can yield very powerful data analysis tools.Local polynomial modeling and its applications provides an up-to-date picture on state-of-the-art nonparametric regression techniques. The emphasis of the book is on methodologies rather than on theory, with a particular focus on applications of nonparametric techniques to various statistical problems.High-dimensional data-analytic tools are presented, and the book includes a variety of examples.This will be a valuable reference for research and applied statisticians, and will serve as a textbook for graduate students and others interested in nonparametric regression. ... Read more

Product Description
With increasing concern over climate change and the security of energy supplies, wind power is emerging as an important source of electrical energy throughout the world.

Modern wind turbines use advanced power electronics to provide efficient generator control and to ensure compatible operation with the power system. Wind Energy Generation describes the fundamental principles and modelling of the electrical generator and power electronic systems used in large wind turbines. It also discusses how they interact with the power system and the influence of wind turbines on power system operation and stability.    

Key features:

• Includes a comprehensive account of power electronic equipment used in wind turbines and for their grid connection.
• Describes enabling technologies which facilitate the connection of large-scale onshore and offshore wind farms.
• Provides detailed modelling and control of wind turbine systems.
• Shows a number of simulations and case studies which explain the dynamic interaction between wind power and conventional generation.

Product Description
Simulation models are increasingly used to investigate processes and solve practical problems in a wide variety of disciplines. Central to the concept of this book is the idea that environmental systems are complex, open systems. The approach that the authors take is to present the diversity of approaches to dealing with environmental complexity and to encourage readers to make comparisons between these approaches and between different disciplines.

Environmental Modelling: Finding Simplicity in Complexity is divided into four main sections. The first section provides an overview of methods and approaches to modelling. The following sections look at the state of the art in modelling different processes, the tools used and the applications addressed. It concludes with a look into the future of simulation modelling and some of the major developments in the field that are currently ongoing, including the use of GIS.

This book:

• Focuses on simplifying complex environmental systems.
• Reviews current software, tools and techniques for modelling.

• Has an associated website containing colour images, links to WWW resources and chapter support pages, including data sets relating to case studies, exercises and model animations.

• Gives practical examples from a wide variety of disciplines, e.g., climatology, ecology, hydrology, geomorphology and engineering.

This book is suitable for 2nd/3rd year undergraduates taking courses in Environmental Modelling in Departments of Geography, Environmental Science, Civil Engineering and Biology. It is also designed to appeal to professionals interested in the environmental sciences, including environmental consultants, government employees, civil engineers, geographers, ecologists, meteorologists, geochemists, soil scientist, environmental managers, social scientists, archaeologists, agronomists, engineers and applied mathematicians, as well as those with interests in spatial modelling and GIS. ... Read more

Customer Reviews (1)

Environmental Modelling: Finding Simplicity in Complexity
The book is very informative and an useful addition for those who are engaged in teaching the environmental modelling - air, water, waste, solid etc.

The chapters are well written and very crisp in putting the matter in a very simple way.

The Title of the book justifies the author's theme and orientation in writing this book!

Mukesh Khare
professor in Environmental Engg
Indian Institute of Technology Delhi
India and
Atlantic LNG Chair Professor in Environmental Engineering
University of West Indies, St Augustine
Trinidad and Tobago ... Read more

Product Description
This book serves as an introduction to the myriad computational approaches to gene regulatory modeling and analysis, and is written specifically with experimental biologists in mind. Mathematical jargon is avoided and explanations are given in intuitive terms. In cases where equations are unavoidable, they are derived from first principles or, at the very least, an intuitive description is provided. Extensive examples and a large number of model descriptions are provided for use in both classroom exercises as well as self-guided exploration and learning. As such, the book is ideal for self-learning and also as the basis of a semester-long course for undergraduate and graduate students in molecular biology, bioengineering, genome sciences, or systems biology.

Contents: Introduction; What Is a System, and Why Should We Care?; What Models Can and Cannot Predict; Why Make Computational Models of Gene Regulatory Networks?; Graphical Representations of Gene Regulatory Networks; Implicit Modeling via Interaction Network Maps; The Biochemical Basis of Gene Regulation; A Single-Cell Model of Transcriptional Regulation; Simplified Models: Mass-Action Kinetics; Simplified Models: Boolean and Multi-valued Logic; Simplified Models: Bayesian Networks; The Relationship between Logic and Bayesian Networks; Network Inference in Practice; Searching DNA Sequences for Transcription Factor Binding Sites; Model Selection Theory; Simplified Models -- GRN State Signatures in Data; System Dynamics; Robustness Analysis; GRN Modules and Building Blocks; Notes on Data Processing for GRN Modeling; Applications of Computational GRN Modeling; Quo Vadis. ... Read more

Customer Reviews (1)

a must-have book for systems biology and gene regulatory networks
There are quite a few books about systems biology and gene regulatory networks, most of which are very disappointing. I find only books written by scientists who are really working in this field are good. If you are not sure about one book, check the author's publications!

On the way to the library to borrow this book, I was thinking, among ~10 books I have read, I would only recommend Eric Davidson's book (biology aspects) and Uri Alon's book (mathematics aspects). After briefly reading this one, I think this book would also be on my recommendation list as a practical guide. It is very funny to find that this author also recommended those two books.

This book has three parts: the first is the introduction of modeling (Ch1-5); the second is about various models of regulation (Ch6-12), including implicit models, single-cell stochastic models, mass-action kinetics models, boolean models, Bayesian models, etc; the last part is about misc aspects of modeling (Ch13-22). They are well organized and coherent. The text is clear and easy to understand (I am not a native speaker), and the book is written for those who are suffering from math-phobia. The best part is, there are many links to free softwares and examples codes of models, so that you can play these models immediately. That's why I take this book as a practical guide in my recommendation list.

A complaint: figures have no numbers and legends; formulas look amateur. I understand that the author doesn't want to intimidate common readers. But these annoy me a little bit.

In a summary, a must-have book for systems biology and gene regulatory networks.
... Read more

Product Description

A new edition of a successful, well-established book that provides the reader with a text focused on practical rather than theoretical aspects of financial modelling

Includes a new chapter devoted to volatility risk

The theme of stochastic volatility reappears systematically and has been revised fundamentally, presenting a much more detailed analyses of interest-rate models

Customer Reviews (8)

Good condition! Perfect shipping time!
It was good condition same as described and good cost.
Also, it takes exactly what they said to be shipped.
Thank you.

Excellent introductory book to financial math
This book takes you through the math of finance step-by-step, passing through very simple examples first and then slowly adding complexity to the models studied. It is written very clearly and the prerequisites to reading this book are only some basic notions of probabilities (sigma-fields, probability measures).

Sometimes, the problem with math books is that they are "dry" and contain only a succession of theorems and proofs. In this one, the authors make a point of explaining in detail how different theorems and models relate to each other, and make extensive comparisons between them so that you get a better feel for how they work in practice.

The book is primarily a math book and can be light on market specifics. Do not buy this book as a practical "howto" in derivatives trading.

At the Forefront of Modern Mathematical Finance
This advanced text provides an excellent account of the current state-of-the art of options pricing/hedging models and interest rate term structure models. The book is accessible to both advanced practitioners of mathematical finance as well as to pure researchers in the field.

The book is in written in a mathematical style and contains rigorous proofs of many results. However, the main focus of the text is to describe the frontier of knowledge in the subject. Each section contains copious references to the literature and is so current that several references are to working papers. Many sections detail open problems and other areas suitable for scholarly research.

In their second edition, the authors provide an extremely useful critique of each modeling paradigm that they investigate. They also provide evidence for their position in the form of literature references which instruct the reader as to the shortcomings/limitations of a particular model. This information should prove quite valuable to model practitioners and implementers.

The authors assume an advanced background from the field of stochastic analysis, although they do provide an appendix which summarizes key results needed from the field. For the stochastic calculus prerequisites, I recommend Rogers & Williams Diffusions, Markov Processes, and Martingales: Volume 1, Foundations and Diffusions, Markov Processes and Martingales: Volume 2, Itô Calculus. Suitable prerequisites are also covered by Karatzas and Shreve in Brownian Motion and Stochastic Calculus. A good foundation in arbitrage pricing theory is also needed. I recommend the nice treatment by Bjork in Arbitrage Theory in Continuous Time.

The book is divided into two parts. The first part deals with options pricing in equity markets. Chapter 1 sets premlinaries required for the arbitrage theoretic framework, while Chapter 2 has a very nice treatment of discrete time models and finite financial markets.

In Chapter 3, the authors develop the Black-Scholes model along with the Bachelier model using arbitrage techniques. The models are compared and used as benchmark continuous time models and form the basis for all subsequent analysis.

Chapter 4 provides a nice survey of techniques used to price/hedge options in foreign equity and currency markets. The authors assume familarity of the basic workings of foriegn markets.

Chapter 5 is a terrific chapter on valuing American-style options. The American call option is thoroughly studied and approximation techniques for the American put option are introduced. The explicit derivations of the formulas are referenced to the literature.

Chapter 6 provides an introduction to exotic options, although the authors vary their use of the term 'exotic' to meaning 'not a standard European-style or American-style' in this chapter to meaning 'no readily available liquid market' in Chapter 7. The descriptions are quite accessible and the basic properties of the options are described along with pricing formulas (assuming the Black-Scholes framework).

Chapter 7 provides as complete an accounting as I have ever seen of the generalizations of the Black-Scholes model and motivates this from the point of view of volatility surfaces. Many of the well-known models are studied in detail, such as CEV, local volatility, and mixture models. The strengths and weaknesses of each model are analyzed. The stochastic volatility models of Wiggins (via Orenstien-Uhlenbeck processes), Hull-White, and Heston are studied, as is the SABR model. The chapter wraps up with a study of the SIV models, describes how the stochastic volatility models can be obtained via limits of GARCH models and surveys Jump-diffusion processes and Levy processes.

The second part of the book is concerned with term structure models and interest rate derivatives. The authors are quite well-know for their many contributions to this study and their treatment is authoritative.

Martingales & Finance
I have used this book for two courses in my MSc degree in Financial Maths...well this book is hard to understand at first glance, but, once you are introduced with a good course on stochastic analysis and applied probability, this is an illuminating book...I particularly enjoyed the part on foreing equity derivatives and exotic derivatives.....Harmed with patience this is definitely the book by which you can effectively gain a sound a knowledge on modern mathematical finance theory....reading in conjunction with Bingham-Kiesel book, could help understanding the foundation of the subject.

yes, but ...
I've been using this book on and off over the last year. At first I was very impressed with the level of detail in the mathematics, especially as it was the only book at the time focussing on risk-neutral methods andcovering BGM. But I've become increasing disillusioned with it of late.It's difficult to explain, but although the whole book is written intraditional theorem-proof style, there are no real proofs! (I have a PhD inmath and have done research for 10 years so I should know a little aboutproofs.) The only "proofs" provided are basically symbolshifting, but the heart of the math is strangely absent. This is especiallystrange given the Springer series in which it appears.

In short, if youwant a catalogue of methods this book does the job, but if you want adeeper understanding try Lars Nielsens book. ... Read more

Product Description
Many books have been written about the finite element method; little however has been written about procedures that assist a practicing engineer in undertaking an analysis in such a way that errors and uncertainties can be controlled. In A Practical Guide to Reliable Finite Element Modelling, Morris addresses this important area. His book begins by introducing the reader to finite element analysis (FEA), covering the fundamental principles of the method, whilst also outlining the potential problems involved. He then establishes consistent methods for carrying out analyses and obtaining accurate and reliable results, concluding with a new method for undertaking error control led analyses which is illustrated by means of two case studies.

The book addresses a number of topics that:

•      Systematically cover an introduction to FEA, how computers build linear-static and linear-dynamic finite element models, the identification of error sources, error control methods and error-controlled analyses.

•      Enable the reader to support the design of complex structures with reliable, repeatable analyses using the finite element method.

•      Provide a basis for establishing good practice that could underpin a legal defence in the event of a claim for negligence.

A Practical Guide to Reliable Finite Element Modelling will appeal to practising engineers engaged in conducting regular finite element analyses, particularly those new to the field. It will also be a resource for postgraduate students and researchers addressing problems associated with errors in the finite element method.

This book is supported by an author maintained website at http://www.femec.co.uk ... Read more

Product Description

This book introduces the reader to advanced methods used in the computer-based modelling of fluid processes. This includes nonhydrostatic processes such as breaking internal waves and density-driven convection, but the model code is also used to simulate an El-Niño event! The book contains 25 practical exercises, using freely available Open-Source software suites, which are widely used by the scientific community. In this book, the art of hydrodynamic modelling is made available and transparent to a wider readership. An attractive byproduct of the book is that results are animations rather than still images. Model codes and animation scripts for all exercises are supplied on a website. The reader can adopt model codes for own independent studies

Product Description
Brian King has earned an international reputation for the quality of his models, all built using skills initially learned during a 5-year craft apprentice-ship when he acquired the basic practical skills in both wood and metal work. These skills, allied to a natural talent, have resulted in his very complicated models of large battleships from all eras. This new book is a compilation of material originally published in the specialist hobby magazine "Model Boats" in which the master modeller has passed on many gems of experience to would-be builders of ship models, including: anchors; gun barrels; porthole; decking; rudders; propellers; fittings; turrets; basic hull; close-up on life saving gear; cowl ventilators; computers and modelling; photographing your models; and working to dimensions. A lifetime of modelling experience is contained within these pages. There are few modellers, expert or novice, who will not benefit from this opportunity to read and learn. ... Read more

Customer Reviews (3)

Great Modelling How to Book
This book discusses most problems you encounter in scratch model building. Although it is specific to model ships it offers solutions that can be applied to all scratch model building. It is also a good read.

Ship Modeling Solutions
This is a very useful book for helping you to make better ship models.Although it doesn't actually teach you the absolute basics of how to build a particular model, it addresses various techniques that will show you how to produce better models and how to deal with some specific problems. I'd say it's a good book for the person who has built a model or two and has decided to follow the hobby further.

Ship Modelling Solutions by Brian King
An excellent guide to help the ship modeler who likes scratch building or has to replace that lost part on a model. ... Read more

Product Description
With over 30 years’ experience as a management teacher and consultant, Mike Pidd provides the tools for thinking that will help us to think through the consequences of decisions before we act.

The third edition of Tools for Thinking builds on the successes of the previous two editions. It creates a bridge between the soft and hard (Operations Research) OR schools of thought and provides an empirically based framework in which to place them. Focusing on modelling as an activity, rather than on models and techniques, Mike Pidd shows how models can be employed to explore possible future scenarios and to make sense of managerial vision.

This third edition has been fully revised and updated without changing its focus.  It features a new chapter on Decision Analysis and includes up-to-date examples using popular softwares, such as Precision Tree, @Risk and Micro Saint Sharp, to illustrate how these help in developing and using management science models as tools for thinking.

Product Description
Connectionism is a way of modeling how the brain uses streams of sensory inputs to understand the world and produce behavior based on cognitive processes. This book describes these principles and their application to the production of speech, memory, and intellectual development. ... Read more

Customer Reviews (2)

nice one
Th only problem is that it came without the cd with examples.
But a very nice book indeed!

at last i see the light
for 2 years i have been searching for textbooks on artificial intelligence that contain actual skills and techniques you can use here and now.so many books on artificial intelligence seem to be all sizzle and no steak.this book is all steak.

finally i have found a book that says "this is what we know how to do.this is how it works.this is how YOU do it."the things that can be done with the information in this book are quite astonishing.

although this book is exclusively about the design and funcion of connectionist neural networks, (rather than the construction of them), the simulator it supplies is quite frankly exellent.

the book covers many useful topics including the basics of facial recognition, voice recognition, language acquisition, and prototype extraction, as well as delving into various other human cognitive process simulations such as episodal memory formation.

i think so highly of this book that i am going to purchase a second copy in the near future, just in case something happens to the first one (which is already falling apart from the amount of use its been getting).

my future purchases for artificial intelligence books will not be made from the artificial intelligence category, but rather, cognitive science, computational nueroscience, and anything written by the authors of this book (Peter McLeod, Kim Plunkett & Edmund T. Rolls). ... Read more

Product Description
The book is aimed at applied statisticians, graduate students of statistics, and students and researchers with a strong interest in statistics and data analysis. This second edition is extensively revised, especially those sections relating with Bayesian concepts. ... Read more

Customer Reviews (3)

nice theory on multivariate generalized linear models
Back in 2000 Stephen Fienberg gave a talk at the University of California at Irvine on the 2000 census and his book "Who Counts". After the talk I went to dinner with him, my colleague Bob Newcomb and Anita Iannucci. Driving to dinner Bob ask Steve for a recommendation on a multivariate textbook. A number of choice were mentioned. Bob's favorite was Cooley and Lohnes but that was a bit dated. He was definitely looking for an applied text and not a theoretical one. I learned my multivariate analysis out of the first edition of Ted Anderson's book. But that is traditional multivariate Gaussian theory and is not at all an applied text. I always liked Gnanadesikan's book and I mentioned that. Srivastava and carter is an applied text that I like and there are many other choices.
I don't recall many of Fienberg's suggestions but I do distinctly recall that he did say that now you can teach it as a special case of the generalized linear models. The idea seemed to make sense to me but I couldn't picture the details. This book is apparently the book Fienberg had in mind. He might have been thinking about the first edition because this second edition was not out then.

The book is very applied and modern and covers many important topics for biostatisticians. Coverage includes multicategorical responses, semi and nonparametric modelling, time series and longitudinal data, random effects models, state space models including Kalman Filters and nonlinear models, and survival analysis. This is not traditional multivariate data but covers many type of multivariate data and models that do not fit the standard multivariate Gaussian theory.

Chapter 4 on selecting and checking models seems to deal with the classical linear models taking a non-standard approach through the methods of generalized linear models.

Excellent text for an applied course and for a reference book. It also covers hidden Markov models and Bayesian methods (including the MCMC implementation and the WinBugs software).

Absolutely an excellent work. Don't hesitate to pay for it!
[1] Studying bioinformatics? You must be familiar with multivariate analysis. This book is absolutely an important reference.
[2] A researcher of statistical pattern recognition? Without doubt, you need this up-to-date book to stuff your toolbox.

A quality text
Great book! Presents clear information about statistical computational details, as well as a number of nonstandard models (including those of Tutz's original work). The book has a transparent build-up, from more easy modeling exercises to advanced applications. I like best the part on generalized linear time series modeling, using the extended Kalman filter in the context of the EM algorithm. The only critique I have concerns the handling of (the variance of) the measurement error term in the associated generalized state space model (this measurement error should be modeled as a constrained martingale difference). ... Read more

Product Description
A central resource to all armor modelers from the complete beginner to the more experienced modeler, this book details all the steps involved in creating a realistic and attractive model armored vehicle. Gary Edmundson and his colleagues take the reader through all the steps required in armor modeling, from the basic stage of putting the kit together, through to the intricacies of texturing and elaborate paint schemes, finishing with how to display your model.

Each chapter is illustrated with a range of different models covering the whole spectrum of armor modelling, including both Second World War Axis and Allied armor as well as more modern subjects. The authors also cover specific techniques and subject areas in which they individually excel, highlighting the different tools and approaches required for each individual discipline. Lavishly illustrated with over 250 images, this book contains all the detailed, step-by-step information you need to become an expert armor modeler. ... Read more

Customer Reviews (3)

Models Classic
Any one that wishes to improve they're modeling skills this is a very good book. Not only on the Models covered, but it also gives ideas on how to improve others. The simple to follow step by step instructions on how to detail the subjects in the book can be used on any model.

Modelling Armoured Vehicles (Osprey Modelling)
I must say I was disappointed with this volume.I did find the article on the Jagdpanther somewhat useful, but rather dated.The other chapters were of passing interest.

Good Book
This is a another well done title from Osprey. Very good info for intermediate, and up, modelers. ... Read more

Product Description
Adding a figure to a kit or a vignette can really bring it to life - yet building and painting figures continues to be a source of frustration to many modelers, with the results all too disappointing. However, help is at hand. The aim of this book is to equip the average modeller with techniques to successfully complete a figure from start to finish, and provides clear and easy to follow instructions on how to select, prepare, assemble, modify and paint realistic figures. Aimed particularly at the beginner and intermediate figure modelers, both those starting out in the hobby and those returning to it, it begins with a round-up of the range of figures available, a discussion of scale, and the tools and materials you need to get going. It then moves to exposing general construction and painting techniques, in clear, easy to master, step-by-step tutorials that will increase confidence and develop better technique. Then, using the four most popular historical periods as a framework (Medieval, Napoleonic, the American Civil War, and the modern era), it covers a wide range of individual techniques, such as showing how to paint clothing, body armor, camouflage patterns, flesh tones, weapons and equipment, and how to work in different scales - providing the reader with a veritable arsenal of artistic techniques, almost all of which can be applied to other periods and subjects. Special effects, such as weathering clothing, and adding key accessories and details are also covered in the step-by-step photographic tutorials. If you want to improve your figure modeling skills, it's a book you shouldn't be without, covering everything you need to help you model figures the right way. ... Read more

Customer Reviews (5)

Yopu get want you pay for
I love this book. It's a step by step on how to improve your scale modelling abilities.

useful but not complete
To be honest,the reason i bought this book is because i wanted more information on how to paint scale figures using acrylics,but this subject is somewhat overlooked here;the chapter on painting with acrylics gives you the description of basic techniques and a series of step to step photos but the writer ommits a lot and more important he does not tell you anywhere how to paint the faces of figures with acrylics and,for me ,the face is always the hardest part.In spite of my disappointment,I give this one three stars because it is very informative on how to use enamels and oils and because it contains the most superb article on how to paint small scale fantasy miniatures (Games Workshop,Reaper etc...) that I have read to date with three pages of step to step photos and captions.In conclusion I would suggest you buy it if you are interested in painting with enamels or oils and if you are a wargamer looking to improve your painting skills.If however you are only interested in learning how to paint figures with acrylics,this is somewhat useles.Thanks for taking the time to read this review.

Disappointing !
As an armour modeller I bought this book looking to improve my figure modelling skills but I learned nothing from this book.
The chapters on construction seem to skip important steps, and not one figure is actually shown through all the processes from construction to finish.
Three chapters are devoted to painting clothing using essentially the same techniques just different types of paint.
The photos on the cover are deceptive, only one of those figures is somewhat featured in the book the others being gallery pictures of other peoples finished work.
The most aggregious omission in the book is any detail on how to paint faces, faces are the most important part of scale model figures and the hardest to achieve with any realism. Only one chapter deals with faces and this figure is a much larger scale than most figure modellers work in, therefore useless to most of us who work in the common scales.
I learned more about modelling scale figures fromModeling US Armor of World War 2 (Modelling Masterclass) and Shep Paines masterpiece How to Build Dioramas than this book. Dont waste your money.

Figuring out Figures
This is a good purchase for anyone seeking to gain a better knowledge of figure building. The book is well-written, and there are tons of detailed pictures and step-by-step formats to look and learn from. One of the things I liked in the text was the use of different mediums used to paint figures. The author gives examples of painting figures with enamels, oils, and acrylics, and gives the basic pros, and cons of each medium. This is a good reference material that I find myself going back to over and over. Well worth the money. I highly recomend it.

good book
good book.Starts with the basics, but talks also to the most experimented.It has helped me to improve my modelling. ... Read more

Product Description
This text concentrates on what can be achieved using the likelihood/Fisherian methods of taking into account uncertainty when studying a statistical problem. It takes the concept of the likelihood as the best method for unifying the demands of statistical modeling and theory of inference. Every likelihood concept is illustrated with realistic examples ranging from a simple comparison of two accident rates to complex studies that require generalized linear or semiparametric modeling. The emphasis is on likelihood not as just a device used to produce an estimate, but as an important tool for modeling. ... Read more

Customer Reviews (4)

Just a Great Book
For a non-measure theoretic, applied stat text this is the best one you can buy - by far.Excellent examples (superb discussion of sufficiency and the invariance principle) and all the R Code.Great for self-study or the advanced undergrad/beginning grad classroom.

Excellent book---well worth the money
I first heard about this book in 2006 at the International Meeting of the Psychometric Society (in Montreal) from a colleague. I ordered it from Amazon the day I heard about it from one of the conference computers. It's great and I've found examples in it for teaching plus a lot of things that I simply didn't know, didn't remember, or didn't really understand the first time.

The examples make this book really useful compared to more technical texts like Bickel & Doksum or Lehmann. (These books are useful, of course, but not so much as texts for courses.) Pawitan's book has tons of really great little examples that bring the concepts down to earth for the reader. For instance, when he plots four score functions (normal, Poisson, binomial and Cauchy), you *see* immediately why estimation is more difficult in models such as the Cauchy compared to the normal. It also builds intuition about what the score function actually is. I have unpublished notes from John Marden (Statistics, UIUC), who was my statistical theory professor, which are very, very good. Pawitan's book is on par. The fact that the R code is available is fantastic.

In All Likelihood: Statistical Modelling and Inference Using Likelihood
I give the book 5 stars, meaning excellent at what it sets out to accomplish.It is one of the few books that does a sound job of integrating statistical theory and statistical practice.Not meant to be a first course in statistics, but probably excellent for a third or fourth course.The student should probably have had a year long course in mathematical statistics and an introduction to statistical computing in R with linear models.After all, the book is focused on likelihood based statistical inference.I should note that the book is stresses integrating statistical ideas and statistical thinking, it is not a mathematical statistics text.The text contains a number of topics (18 chapters) and should be of interest to anyone who wishes to be a competent applied statistician.Any student who has had a year with Mood & Graybill, "Introduction to the Theory of Statistics", and a year with "Statistical Models" by A.C. Davison, will be ready to appreciate "In All Likelihood".Any student who has all three of these courses will have a fundamental understanding of statistical inference and what it means to be an applied statistician.They will also achieve this in the shortest, most direct path.

Statistical Modelling and Inference for this Century
I used "In All Likelihood" as a basis for the 13 week 3rd year Mathematical Statistics/ Statistical Inference course I have almost finished teaching. Finding this book at Amazon was my very good fortune. It is exactly the way I would have tried to write such a course but I couldn't have done as good a job as Pawitan.

I like this book because it covers all the theory, such as, sufficiency, completeness, minimum variance unbiased estimation, large sample asymptotics etc. But the beauty of the book lies in the relevant, modern examples. Likelihood functions are liberally graphed for the many examples. These are created in R; if you are an R user, or wish to be, you'll like the availability of the source code. If you're not into R, it won't make a difference to the usability of the book.

Books like Bickel & Doksum, Casella & Berger and Rice, have the theory, but not the range of practical examples that add so much to "In All Likelihood".Pawitan's theoretical sections are comparatively easy to follow. Pawitan points out important results rather than the reader needing to surmise what bits of theory are useful in practice.

On the other hand, since reading Pawitan I can now read sections out of McCullough and Nelder, and other applications books, no longer feeling I have missed some important background theory.

I see signs of good teaching practice throughout "In All Likelihood" that make it easy to learn and teach from. For example, difficult concepts are often initially introduced in an example and then reintroduced in technical detail. This way the learner feels some familiarity the second time around.

Semester is nearly over. We covered the first nine chapters (out of 18) in 38 hours of lectures. I'm reading the rest of the book now. Every page or two something else I have heard, seen or read in the past begins to make more sense. Examples of topics in the second half of the book are the EM algorithm, Generalized Estimating Equations and random/mixed effects models. I told my students that if they considered buying a book for their future in statistics, "In All Likelihood" is a very good one. ... Read more

Product Description
Practical how-to book describes all the key operations of ARIS Toolset. Author discusses how to create standards for using ARIS as well as giving guidance on how to use ARIS for process capture and design. Softcover. ... Read more

Customer Reviews (2)

Excellent reference for ARIS
This is an excellent reference book on ARIS. It is really a "must have" for anyone learning and using ARIS. It is well written and well structured. The only reason I've rated it at 4 stars is because it is based on Release 5 of ARIS. An updated edition would be great.

Best book written about Aris
This book explains quite good how to use Aris in practice. However it's quite heavy to read through. There could be more pictures and charts to get things clearer and easier to understand. But still absolutely the best book about Aris. ... Read more