Abstract:
We consider a class of Lévy processes that includes symmetric $\alpha$-stable processes for $\alpha \in (1,2)$. We obtain a family of stochastic operators using these processes and study the family's properties. We show that constructed stochastic operators approximate the fractional differential operator of order $\alpha$ for the spectral parameter with non-positive real part.
Key words and phrases:stochastic processes, Levy processes, stable processes, local time.