Suppose that
d≥1 is an integer,
α∈(0,
d) is a fixed parameter and let
I α be the fractional integral operator associated with
d-dimensional Walsh-Fourier series on (0,1]
d . Let
p,
q be arbitrary numbers satisfying the conditions 1≤
p<
d/
α and 1/
q=1/
p?
α/
d. We determine the optimal constant
K, which depends on
α,
d and
p, such that for any
f∈
L p ((0,1]
d ) we have
$$ ||I_{\alpha } f||_{L^{q,\infty }((0,1]^{d})}\leq K||f||_{L^{p}((0,1]^{d})}. $$
In fact, we shall prove this inequality in the more general context of probability spaces equipped with a regular tree-like structures. This allows us to obtain this result also for non-integer dimension. The proof exploits a certain modification of the so-called Bellman function method and appropriate interpolation-type arguments. We also present a sharp weighted weak-type bound for
I α , which can be regarded as a version of the Muckenhoupt-Wheeden conjecture for fractional integral operators.