Understanding Random Walks: Theory, Simulation, and Real-World Applications
Introduction A random walk is one of the most fundamental stochastic processes in probability theory. At its core, it describes a path that consists of a succession of random steps. Despite its deceptively simple definition, the random walk model underpins a surprisingly wide range of phenomena—from the diffusion of particles in physics to stock‑price dynamics in finance, from the spread of diseases in epidemiology to algorithmic techniques in computer science. ...