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Invariance principles for local times in regenerative settings.

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FD2W03 - Optimal control and fractional dynamics

Consider a stochastic process which is regenerative at some state and which is approximated by a sequence of discrete time regenerative processes. We give conditions so that the naturally defined local time (which counts the number of visits to the regenerative state) of the approximating processes has a scaling limit.  We discuss previous cases that are present in the literature.  Joint work with Aleksandar Mijatovic.

This talk is part of the Isaac Newton Institute Seminar Series series.

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