Large Deviations for Local Times of Stable Processes and Stable Random Walks in 1 Dimension
Xia Chen, University of Tennessee, USA
Wenbo Li, University of Delaware, USA
Jay Rosen, College of Staten Island, CUNY, USA
Abstract
In Chen and Li (2004), large
deviations were obtained for the spatial $L^p$ norms of
products of independent Brownian local times
and local times of random walks with finite second moment.
The methods of that paper depended heavily on the continuity of the
Brownian path and the fact that the generator of Brownian motion, the
Laplacian, is a local operator. In this paper we generalize these
results to local times of symmetric stable processes and stable random walks.
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