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, ...

For many financial professionals, Burton Malkiel's classic has served as a trusted guide for nearly 50 years. Many investors use it to understand how markets work. This review takes a closer look at ...

Random walks in random environments constitute a pivotal area of research at the interface of probability theory, statistical physics and mathematical modelling. This field investigates stochastic ...

The efficient market hypothesis theory states that the market prices securities fairly and efficiently, and investors are unable to outperform the market consistently. Moreover, EMH theory proposes ...

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 ...

Forbes contributors publish independent expert analyses and insights. I write about incisive investing advice. Financial planning is all about managing risk, and using mean reversion is a brilliant ...

Why is it that when you walk randomly, the more you walk, the farther you get from your starting point? The Quanta Newsletter ...

Voters' preferences depend on available information. Following Case-Based Decision Theory, we assume that this information is processed additively. We prove that the collective preferences deduced ...