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random walk

noun
1.
Statistics. the path taken by a point or quantity that moves in steps, where the direction of each step is determined randomly.
2.
Physics. the tendency of particles in random motion to achieve a net displacement or to drift in a particular direction.
Origin
1900-1905
1900-05
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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British Dictionary definitions for random-walk

random walk

noun
1.
a mathematical model used to describe physical processes, such as diffusion, in which a particle moves in straight-line steps of constant length but random direction
2.
(statistics) a route consisting of successive and connected steps in which each step is chosen by a random mechanism uninfluenced by any previous step
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Encyclopedia Article for random-walk

random walk

in probability theory, a process for determining the probable location of a point subject to random motions, given the probabilities (the same at each step) of moving some distance in some direction. Random walks are an example of Markov processes, in which future behaviour is independent of past history. A typical example is the drunkard's walk, in which a point beginning at the origin of the Euclidean plane moves a distance of one unit for each unit of time, the direction of motion, however, being random at each step. The problem is to find, after some fixed time, the probability distribution function of the distance of the point from the origin. Many economists believe that stock market fluctuations, at least over the short run, are random walks.

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Encyclopedia Britannica, 2008. Encyclopedia Britannica Online.
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