Jianfeng Zhang – författare

This book provides a systematic and accessible approach to stochastic differential equations, backward stochastic differential equations, and their connection with partial differential equations, as well as the recent development of the fully nonlinear theory, including nonlinear expectation, second order backward stochastic differential equations, and path dependent partial differential equations. Their main applications and numerical algorithms, as well as many exercises, are included.

The book focuses on ideas and clarity, with most results having been solved from scratch and most theories being motivated from applications. It can be considered a starting point for junior researchers in the field, and can serve as a textbook for a two-semester graduate course in probability theory and stochastic analysis. It is also accessible for graduate students majoring in financial engineering.

In recent years there has been a significant increase of interest in continuous-time Principal-Agent models, or contract theory, and their applications. Continuous-time models provide a powerful and elegant framework for solving stochastic optimization problems of finding the optimal contracts between two parties, under various assumptions on the information they have access to, and the effect they have on the underlying "profit/loss" values. This monograph surveys recent results of the theory in a systematic way, using the approach of the so-called Stochastic Maximum Principle, in models driven by Brownian Motion.

Optimal contracts are characterized via a system of Forward-Backward Stochastic Differential Equations. In a number of interesting special cases these can be solved explicitly, enabling derivation of many qualitative economic conclusions.

This book mainly focuses on ecological approaches for preventing and controlling non-point source (NPS) pollution on the basis of forestry measures. In addition to the effects of ecological control, it introduces readers to the characteristics of NPS pollution in Taihu Lake watershed, water eutrophication evaluation methods, and potential countermeasures.

Given the crucial role of surface runoff and soil erosion in producing water pollution, the book presents forestry measures to combat them, such as the creation of public welfare forests, urban forestry, planting techniques for hedgerows on slope land, the establishment of shelter belts, nitrogen and phosphorus absorption by hydrophytes, and sustainable management for wetlands. Moreover, the results are supplemented by a wealth of numerical calculations, tables, figures and photographs. The book offers a valuable guide for researchers, educators and professionals working in the areas of water environment, water security andecological construction.

Prof. Jianfeng Zhang works at the Institute of Subtropical Forestry, Chinese Academy of Forestry, Fuyang, China.