Exploring the Meandering Pathways of Random Walk: From Finance to Physics, Biology, and Beyond
DOI:
https://doi.org/10.54097/48kqs989Keywords:
Random walk; Finance; Physics; Biology.Abstract
As a matter of fact, the random walk has been implemented in various applications among different fields in recent years. With this in mind, this study explores the concept of random walk and its modern application in the three specific fields, i.e., finance, physics and biology. Based on an analysis of key articles and studies, the exploration identifies the main themes, including the efficient market hypothesis, Brownian Motion in physics as well as the genetic drift patterns. According to the analysis, this study also highlights gaps in the literature, suggesting the need for further empirical research in these areas. Understanding the intricacies of random walk theory is essential for fields in science, technology, as well as decision-making, and this study provides valuable insights into its evolution and current status. Overall, these results shed light on guiding further exploration of random walk as well as corresponding applications in different fields and subjects.
Downloads
References
Wang M C, Uhlenbeck G E. On the theory of the Brownian motion II. Reviews of modern physics, 1945, 17(2-3): 323.
Sullivan E J, Timothy M W. Louis Bachelier: The father of modern option pricing theory. The Journal of Economic Education, 1991, 22(2): 165
Malkiel B G. The efficient market hypothesis and its critics Journal of economic perspectives, 2003, 17(1): 59-82.
Haw M. Einstein's random walk. Physics World, 2005, 18(1): 19.
Fama E F. Efficient Capital Markets: A review of theory and empirical work. The Journal of Finance, 1970, 25(2): 383.
Malkiel B G. The efficient market hypothesis and its critics. Journal of Economic Perspectives, 2003, 17(1): 59–82.
Gustafsson O, Gustafsson S, Manukyan L, et al. Significance of Brownian motion for nanoparticle and virus capture in nanocellulose-based filter paper. Membranes, 2018, 8(4): 90.
Berthelot G, Saïd S, Bansaye V. A random walk model that accounts for space occupation and movements of a large herbivore. Scientific Reports, 2021, 11(1): 14061.
Chu A, Huber G, McGeever A, et al. A random-walk-based epidemiological model. Scientific reports, 2021, 11(1): 19308.
Topping J. Investigations on the theory of the Brownian movement. Physics Bulletin, 1956, 7(10): 281–281.
Mary M J. The Efficient Market Hypothesis of Fama and festinger’s cognitive dissonance. Adarsh Journal of Management Research, 2011, 4(1): 77.
Kreps D M. The Black-Scholes-Merton model as an idealization of discrete-time economies. Cambridge University Press, 2019.
Albert E. Dynamical Theories of Brownian Motion. 2020: 17–22.
Khrapak S A. Self-diffusion in simple liquids as a random walk process. Molecules, 2021, 26(24): 7499.
Freed K F. Polymers and Random Walks-Renormalization Group Description and Comparison with Experiment. Journal of research of the National Bureau of Standards,1977, 90(6): 503-506.
Codling E A. Random walk models in biology. Journal of The Royal Society Interface, 2008, 5(25): 813–834.
Prakash, N. Effectiveness of social distancing interventions in containing COVID-19 incidence: International evidence using Kalman filter. Economics and human biology, 2022, 44: 101091.
Saeb A T M, Al-Naqeb D. The Impact of Evolutionary Driving Forces on Human Complex Diseases: A Population Genetics Approach. Scientifica 2016, 2016: 2079704.
Fama E F. Random walks in stock market prices. Financial Analysts Journal, 1995, 51(1): 75–80.
Haslegrave J. Time Dependent Biased Random Walks. ACM Transactions on Algorithms, vol. 18, no. 2, 2022, 18(2): 1–30.
Jin S. Random-walk model of diffusion in three dimensions in brain extracellular space: comparison with microfiberoptic photobleaching measurements. Biophysical Journal, 2008, 95(4): 1785-1794
Paudel B, Bernstein A. Random walks with erasure: Diversifying personalized recommendations on social and information networks. Proceedings of the Web Conference 2021.
Downloads
Published
Issue
Section
License
Copyright (c) 2024 Highlights in Science, Engineering and Technology
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
