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Abstract

Many natural questions about extremes need a stochastic process context for precise formulation. Imagine observing X 1, X 2,... at a rate of one per unit of time. Suppose while observing we compute the maxima M 1, M 2,.... We may ask how often or at what frequency does the maximum change. A change in the maximum means a record was observed, a record being a value larger than previous values. So the previous question is equivalent to asking how often records occur. Also, at what indices do records occur and do the actual record values have any pattern?

Keywords

Point Process Weak Convergence Independent Increment Jump Time Markov Jump Process 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media New York 1987

Authors and Affiliations

  • Sidney I. Resnick
    • 1
  1. 1.School of Operations Research and Industrial EngineeringCornell UniversityIthacaUSA

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