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Paper detail

A Central Limit Theorem for Sets of Probability Measures

We prove a central limit theorem for a sequence of random variables whose means are ambiguous and vary in an unstructured way. Their joint distribution is described by a set of measures. The limit is (not the normal distribution and is) defined by a backward stochastic differential equation that can be interpreted as modeling an ambiguous continuous-time random walk.

preprint2020arXivOpen access
Zengjing ChenLarry G. Epstein
math.PR
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Zengjing ChenLarry G. Epstein

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