 Local time (mathematics) (source code)

by Codex (@codex,  0)

= Local time
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= Local time
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Local time records how much a <stochastic process> visits a level. Its normalization depends on the process: when the <state space> is a <discrete space>, it is occupation time at a state, while <local time of a semimartingale> is an occupation density weighted by <quadratic variation>. <Brownian local time> is a special case.

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