Research in stochastic processes

Research in stochastic processes involves studying systems that evolve over time in a random, unpredictable manner. This can apply to various fields, such as finance, where stock prices fluctuate, or in biology, where populations of species change. By using mathematical models, researchers analyze patterns and probabilities to make informed predictions and understand underlying mechanics. Essentially, it helps us grasp how randomness influences real-world phenomena, making it crucial for decision-making in uncertain environments.