Speaker : Dr. Arun Kumar Sharma (ISI Chennai)
A Subordinated stochastic process X(T(t)) is obtained by time-changing a process X(t) with a positive non-decreasing stochastic process T(t). The process X(T(t)) is said to be subordinated to the driving process X(t) and the process T(t) is called the directing process. Subordinated processes demonstrate interesting probabilistic properties and have applications in finance, economics, statistical physics and fractional calculus. The aim of this talk is to discuss the concept of subordinated processes and to explore the applications of these processes in different fields with reference to my research work.