The random walk theorem, first presented by French mathematician Louis Bachelier in 1900 and then expanded upon by economist Burton Malkiel in his 1973 book A Random Walk Down Wall Street, asserts ...

Random walks and percolation theory form a fundamental confluence in modern statistical physics and probability theory. Random walks describe the seemingly erratic movement of particles or entities, ...

The Annals of Probability, Vol. 2, No. 2 (Apr., 1974), pp. 347-348 (2 pages) Let $\{X_n, n \geqq 1\}$ be a stationary independent sequence of real random variables ...

Theory that stock price changes from day to day are accidental or haphazard; changes are independent of each other and have the same probability distribution. For a simple random walk, the best ...