For a random walk with drift, the best forecast of tomorrow's price is today's price plus a drift term. One could think of the drift as measuring a trend in the price (perhaps reflecting long-term ...

This article addresses some outstanding questions on the consequences of measurement error in one such dynamic model, the random walk with drift model, and proposes some new ways to correct for ...

We consider a linearly edge-reinforced random walk on a class of two-dimensional graphs with constant initial weights. The graphs are obtained from ℤ² by replacing every edge by a sufficiently large, ...

Paul Samuelson’s thought experiment was proposed at a time when it was assumed that real equity returns to shareholders followed a “random walk with drift”.

For a random walk with drift, the best forecast of tomorrow's price is today's price plus a drift term. One could think of the drift as measuring a trend in the price (perhaps reflecting long-term ...