A Wiener Process, also known as Brownian motion, is a continuous-time stochastic process that serves as a mathematical model for random movement, often used in finance to model stock prices. It is characterized by having independent, normally distributed increments and continuous paths, making it a fundamental building block for stochastic calculus and the modeling of various random phenomena.

Wiener Process

Brownian motion is the random movement of particles suspended in a fluid, resulting from their collision with the fast-moving molecules in the fluid. It is a fundamental concept in statistical physics and serves as a mathematical model for stochastic processes, with applications in fields such as finance, biology, and physics.

Brownian motion

continuous-time stochastic process

mathematical model for random movement

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