Local prelimit theorems and their applic
β
L.B. Klebanov; S.T. Rachev; M. Safarian
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Article
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2000
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Elsevier Science
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English
β 332 KB
We derive a new type of "prelimit" theorems for sums of random number of random variables. As an application, we show that the distribution of asset returns can be approximated by truncated L6vy flights.