Publisher's Synopsis
Probability theory has grown from a modest study of simple games of change to a subject with application in almost every branch of knowledge and science. In this exciting book, a number of distinguished probabilists discuss their current work and applications in an easily understood manner. Chapters show that new directions in probability have been suggested by the application of probability to other fields and other disciplines of mathematics. The study of polymer chains in chemistry led to the study of self-avoiding random walks; the study of the Ising model in physics and models for epidemics in biology led to the study of the probability theory of interacting particle systems. The stochastic calculus has allowed probabilists to solve problems in classical analysis, in theory of investment, and in engineering. The mathematical formulation of game theory has led to new insights into decisions under uncertainty. These new developments in probability are vividly illustrated throughout the book.
