AbstractRandom fields are stochastic processes indexed by a multidimensional parameter. They possess some interesting properties, e.g. isotropy and the Markov property, and satisfy laws of large numbers and weak convergence theorems under fairly general conditions. As such, random fields provide a powerful tool for modelling spatial phenomena in physics, biology, economics, and other social sciences.
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This chapter was published in: Steven N. Durlauf & Lawrence E. Blume (ed.) , , pages , 2010, 2nd quarter update.
This item is provided by Palgrave Macmillan in its series The New Palgrave Dictionary of Economics with number v:4:year:2010:doi:3827.
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