11.10 A Wiener Process(See pages 218) e We consider a variable z whose value changes continuously o the change in a small interval of time ft is δz The variable follows a Wiener process if 1.8zEvSt where e is a random drawing from (0, 1 2. The values of Sz for any 2 different(non- overlapping) periods of time are independent Options, Futures, and Other Derivatives, 5th edition C 2002 by John C Hull11.10 Options, Futures, and Other Derivatives, 5th edition © 2002 by John C. Hull A Wiener Process (See pages 218) • We consider a variable z whose value changes continuously • The change in a small interval of time dt is dz • The variable follows a Wiener process if 1. 2. The values of dz for any 2 different (non￾overlapping) periods of time are independent dz =  dt where  i s a random drawing from f(0,1)