Local Time (mathematics)
In the mathematical theory of stochastic processes, local time is a stochastic process associated with diffusion processes such as Brownian motion, that characterizes the amount of time a particle has spent at a given level. Local time is very useful and often appears in various stochastic integration formulas if the integrand is not sufficiently smooth, such as Tanaka's formula.
Read more about Local Time (mathematics): Formal Definition
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—Jean Baudrillard (b. 1929)
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