The Wald distribution, named for Abraham Wald, is important in the study of Brownian motion. Specifically, the distribution governs the first time that a Brownian motion with positive drift hits a fix...The Wald distribution, named for Abraham Wald, is important in the study of Brownian motion. Specifically, the distribution governs the first time that a Brownian motion with positive drift hits a fixed, positive value. In Brownian motion, the distribution of the random position at a fixed time has a normal (Gaussian) distribution, and thus the Wald distribution, which governs the random time at a fixed position, is sometimes called the inverse Gaussian distribution.