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Theory and applications of Lévy processes (stochastic processes with stationary and independent increments): e.g. path properties, stochastic differential equations driven by jump-type processes, fluctuation theory of Lévy processes, queuing theory.
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Simulation of Lévy walk
Indeed, the Lévy flight is a random walk where the step increments $\nu$ are i.i.d. with a Lévy distribution, $p(\nu)\rightarrow 1/\nu^{1+\alpha}$ for $\nu\rightarrow\infty$, with exponent $0<\alpha< …