2017/09/22 by Antonio Auffinger, Auffinger, Antonio, Dylan Cable +1 · 1 citation
Mathematics · Physics and Astronomy · Economics, Econometrics and Finance · #Stochastic processes and statistical mechanics #Theoretical and Computational Physics #Stochastic processes and financial applications
paper · pdf · doi:10.48550/arxiv.1709.07849
We consider a stochastic process that describes several particles interacting by either merging or annihilation. When two particles merge, they combine their masses; when annihilation occurs, only the particle of smallest mass survives. Particles start at the bottom of a binary tree of depth N and move towards the root. Assuming that merging or annihilation happens independently at random, we determine the limit law of the final mass of the system in the large N limit.