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A thorough grounding in Markov chains and martingales is essential to dealing with the complex situations encountered in the study of discrete time stochastic processes. This book presents more than 100 exercises and problems related to martingales and Markov chains, each with a detailed solution. The authors begin with a review of the basic notions, then set the stage for each set of exercises by recalling the relevant elements of the theory. The exercises range in difficulty from the elementary to the more advanced. Each section also contains a set of problems that open the door to specific applications.
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