👉 In probability theory and statistics, a martingale is an abstract mathematical construction which is a sequence of random variables (or processes) that converge in distribution to a common limit. It is often used as a tool for studying the behavior of stochastic processes such as random walks or Brownian motion. A martingale does not necessarily have a finite expectation value, and it is necessary that the process be adapted to a filtration (a sequence of Borel probability measures on the space), so that its

martingales