Stochastic processes via the pathway model

Abstract

After collecting data from observations or experiments, the next step is to build an appropriate mathematical or stochastic model to describe the data so that further studies can be done with the help of the models. In this article, the input-output type mechanism is considered first, where reaction, diffusion, reaction-diffusion, and production-destruction type physical situations can fit in. Then techniques are described to produce thicker or thinner tails (power law behavior) in stochastic models. Then the pathway idea is described where one can switch to different functional forms of the probability density function) through a parameter called the pathway parameter.