Stochastic

Stochastic (from the Greek στόχος for aim or guess) is an adjective that refers to systems whose behavior is intrinsically non-deterministic, sporadic, and categorically not intermittent (i.e. random). A stochastic process is one whose behavior is non-deterministic, in that a system's subsequent state is determined both by the process's predictable actions and by a random element. However, according to M. Kac and E. Nelson, any kind of time development (be it deterministic or essentially probabilistic) which is analyzable in terms of probability deserves the name of stochastic process.

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Other articles related to "stochastic":

Stochastic Grammar
... A stochastic grammar (statistical grammar) is a grammar framework with a probabilistic notion of grammaticality Stochastic context-free grammar Statistical parsing Data-oriented ...
Stochastic Ordering - Stochastic Dominance
... Stochastic dominance is a stochastic ordering used in decision theory ... Several "orders" of stochastic dominance are defined ... Zeroth order stochastic dominance consists of simple inequality if for all states of nature ...
Stochastic Processes And Boundary Value Problems
... boundary value problems can be solved using the methods of stochastic analysis ... can be solved using an Itō process that solves an associated stochastic differential equation ...
Stochastic - Business - Finance
... The financial markets use stochastic models to represent the seemingly random behaviour of assets such as stocks, commodities and interest rates ... Not to be confused with stochastic oscillators in technical analysis ...
Stochastic Control - In Finance
... in a finance context, the state variable in the stochastic differential equation is usually wealth or net worth, and the controls are the shares placed at each time in the various assets ... of the change in wealth are usually the stochastic returns to assets and the interest rate on the risk-free asset ... The field of stochastic control has developed greatly since the 1970s, particularly in its applications to finance ...