Although market observations show that correlation between stocks, interest rates, e. g., is not deterministic, correlation is usually modelled as a fixed number. This article provides a new approach of modelling correlation as a stochastic process which has applications in many fields. We will show an example from financial markets where the stochasticity of correlation is a fundamental source...

[2] Probabilistic network representations of continuous-time stochastic processes for applications in planning and control. [5] Hierarchical planning involving deadlines, travel time and resources.

In this contribution we deal with the deterministic dominance of the proba bility moments of stochastic processes More precisely given a positive stochastic process we propose to dominate its probability moment sequence by the trajectory of appropriate lower and upper dominating deterministic processes The analysis of the behavior of the original stochastic process is then transferred to the st...

We use the correspondence between string states and local operators on the world-sheet boundary defined by vertex operators in open string theory to put in correspondence, holographically, the bosonic open string with the large N limit of a mechanical system living on the world-sheet boundary. We give a natural interpretation of this system in terms of a one-dimensional stochastic process and s...

The purpose of this problem is to illustrate that for an arrival process with independent but not identically distributed interarrival intervals, X1, X2, . . . ,, the number of arrivals N(t) in the interval (0, t] can be a defective rv. In other words, the ‘counting process’ is not a stochastic process according to our definitions. This illustrates that it is necessary to prove that the countin...

1. Introduction. In the theory of stationary stochastic processes, much effort

The mean completion time of a stochastic process may be rendered finite and minimised by a judiciously chosen restart protocol, which may either be stochastic or deterministic. Here we study analytically an arbitrary stochastic search subject to an arbitrary restart protocol, each characterised by a distribution of waiting times. By a direct enumeration of paths we construct the joint distribut...