In probability theory and related fields, a stochastic or random process is a mathematical object usually defined as a family of random variables. Stochastic processes are widely used as mathematical models of systems and phenomena that appear to vary in a random manner. Examples include the growth of a bacterial population, an electrical current fluctuating due to thermal noise, or the movement of a gas molecule. Stochastic processes have applications in many disciplines such as biology, chemistry, ecology, neuroscience, physics, image processing, signal processing, control theory, information theory, computer science, cryptography and telecommunications. Furthermore, seemingly random changes in financial markets have motivated the extensive use of stochastic processes in finance.
Christopher Miles Perrins, is Emeritus Fellow of the Edward Grey Institute of Field Ornithology at the University of Oxford, Emeritus Fellow at Wolfson College, Oxford and Her Majesty's Warden of the Swans since 1993.
Albert Nikolayevich Shiryaev is a Soviet and Russian mathematician. He is known for his work in probability theory, statistics and financial mathematics.
Sir David John Spiegelhalter is a British statistician and a Fellow of Churchill College, Cambridge. From 2007 to 2018 he was Winton Professor of the Public Understanding of Risk in the Statistical Laboratory at the University of Cambridge. Spiegelhalter is an ISI highly cited researcher.
Sir John Frank Charles Kingman is a British mathematician. He served as N. M. Rothschild and Sons Professor of Mathematical Sciences and Director of the Isaac Newton Institute at the University of Cambridge from 2001 until 2006, when he was succeeded by David Wallace. He is known for developing the mathematics of the Coalescent theory, a theoretical model of inheritance, which is fundamental to modern population genetics.
Christopher Michael Bishop is the Laboratory Director at Microsoft Research Cambridge, Honorary Professor of Computer Science at the University of Edinburgh and a Fellow of Darwin College, Cambridge. Bishop is a member of the UK AI Council. He was also recently appointed to the Prime Minister's Council for Science and Technology.
Andrew Blake FREng, FRS, is a British scientist, former laboratory director of Microsoft Research Cambridge and Microsoft Distinguished Scientist, former Director of the Alan Turing Institute, Chair of the Samsung AI Centre in Cambridge, Honorary Professor at the University of Cambridge, Fellow of Clare Hall, Cambridge, and a leading researcher in computer vision.
David Williams FRS is a Welsh mathematician who works in probability theory.
Richard Robert Weber is a mathematician working in operational research. He is Emeritus Churchill Professor of Mathematics for Operational Research in the Statistical Laboratory, University of Cambridge.
Sir Christopher Martin Dobson was a British chemist, who was the John Humphrey Plummer Professor of Chemical and Structural Biology in the Department of Chemistry at the University of Cambridge, and Master of St John's College, Cambridge.
Gareth Owen Roberts FRS is a statistician and applied probabilist. He is Professor of Statistics in the Department of Statistics and Director of the Centre for Research in Statistical Methodology (CRiSM) at the University of Warwick. He is an established authority on the stability of Markov chains, especially applied to Markov chain Monte Carlo (MCMC) theory methodology for a wide range of latent statistical models with applications in spatial statistics, infectious disease epidemiology and finance.
Mathematical finance, also known as quantitative finance and financial mathematics, is a field of applied mathematics, concerned with mathematical modeling of financial markets.
In stochastic calculus, the Kunita–Watanabe inequality is a generalization of the Cauchy–Schwarz inequality to integrals of stochastic processes. It was first obtained by Hiroshi Kunita and Shinzo Watanabe and plays a fundamental role in their extension of Ito's stochastic integral to square-integrable martingales.
Mark Herbert Ainsworth Davis (1945–2020) was Professor of Mathematics at Imperial College London. He made fundamental contributions to the theory of stochastic processes, stochastic control and mathematical finance.
James Laurie Snell, often cited as J. Laurie Snell, was an American mathematician.
Rogemar Sombong Mamon, is a Canadian mathematician, quant, and academic. He is a co-editor of the IMA Journal of Management Mathematics published by Oxford University Press since 2009.
Adrian Baddeley is a statistical scientist working in the fields of spatial statistics, statistical computing, stereology and stochastic geometry.
Shinzō Watanabe is a Japanese mathematician, who has made fundamental contributions to probability theory, stochastic processes and stochastic differential equations. He is regarded and revered as one of the fundamental contributors to the modern probability theory and Stochastic calculus. The pioneering book “Stochastic Differential Equations and Diffusion Processes” he wrote with Nobuyuki Ikeda has attracted a lot of researchers into the area and is known as the “Ikeda-Watanabe” for researchers in the field of stochastic analysis. He had been served as the editor of Springer Mathematics.
Vivek Shripad Borkar is an Indian electrical engineer, mathematician and an Institute chair professor at the Indian Institute of Technology, Mumbai. He is known for introducing analytical paradigm in stochastic optimal control processes and is an elected fellow of all the three major Indian science academies viz. the Indian Academy of Sciences, Indian National Science Academy and the National Academy of Sciences, India. He also holds elected fellowships of The World Academy of Sciences, Institute of Electrical and Electronics Engineers, Indian National Academy of Engineering and the American Mathematical Society. The Council of Scientific and Industrial Research, the apex agency of the Government of India for scientific research, awarded him the Shanti Swarup Bhatnagar Prize for Science and Technology, one of the highest Indian science awards for his contributions to Engineering Sciences in 1992. He received the TWAS Prize of the World Academy of Sciences in 2009.
Richard H. Stockbridge is a Distinguished Professor of Mathematics at the University of Wisconsin-Milwaukee. His contributions to research primarily involve stochastic control theory, optimal stopping and mathematical finance. Most notably, alongside Professors Thomas G. Kurtz, Kurt Helmes, and Chao Zhu, he developed the methodology of using linear programming to solve stochastic control problems.
