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Stochastic processes are necessary ingredients for building models of a wide variety of phenomena exhibiting time varying randomness. This text offers easy access to this fundamental topic for many students of applied sciences at many levels. It includes examples, exercises, applications, and computational procedures. It is uniquely useful for beginners and non-beginners in the field. No knowledge of measure theory is presumed.

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Preface 1. Preliminaries: Discrete Index Sets and/or Discrete State Spaces 2. Markov Chains 3. Renewal Theory 4. Point Processes 5. Continuous Time Markov Chains 6. Brownian Motion 7. The General Random Walk References Index

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"Definitely the best textbook for a second course in probability now available. Written with excruciating lucidity, and with an excellent choice of exercises." -Gian-Carlo Rota, The Bulletin of Mathematics Books

"In summary, Resnick has succeeded [in writing] a very fine textbook which will become popular among students as well as among professors preparing an introductory course on stochastic processes." -Internationale Mathematische Nachrichten

"A splendid book to bring home the value and importance of stochastic processes. Highly recommended." -Choice

"There are so many good introductory texts on [stochastic processes] that one can hardly hope to write a better or more attractive one. This book, however, convinced the reviewer that it very likely that the Adventures will beocme a widely used, popular first year graduate text on stochastic processes. The book is flexible, the motivations of deep theories are clear, the examples and exercises are interesting." ---Zentralblatt MATH

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