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(1) A random process distinguished by the absence of a drift component or any expected change over an interval. Also called Diffusion Process. See also Brownian Motion, Stochastic Process. (2) Interestingly, this term has its earliest applications in probability and random processes as the name of a betting system in which the gambler doubles his wager at each loss until a win gains him a net amount equal to his original bet-or he goes bankrupt. This usage was common in the nineteenth and early twentieth centuries.
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