Stochastic Calculus for Finance I: The Binomial Asset Pricing Model by Steven E. Shreve is a foundational text in quantitative finance, published by Springer in 2004. This first volume introduces the binomial asset pricing model as a straightforward framework for understanding continuous-time finance theory. Intended for advanced undergraduates and Master's students, it covers probability theory essentials including Brownian motion, foreign exchange models, forward measures, and jump-diffusion processes.

This textbook evolved from Carnegie Mellon's Computational Finance Master's program lecture notes and provides intuitive explanations alongside rigorous proofs and detailed exercises. It includes chapter summaries and practical problems that extend theory into real-world applications. Steven E. Shreve is a renowned expert in mathematical finance, making this volume a must-have for students and professionals seeking a deep understanding of stochastic calculus with a focus on asset pricing.

The book is part of the Springer Finance Textbook series and printed on acid-free paper. ISBN 0-387-40100-8 identifies this edition, making it a valuable resource for collectors and finance academics alike.