par Bruss, F Thomas ;Yor, Marc
Référence Bulletin of the Belgian Mathematical Society Simon Stevin, 22, 2, page (319-330)
Publication Publié, 2015
Article révisé par les pairs
Résumé : In this note we propose a concise proof of David Williams' decomposition of the Bessel Process of dimension 3 (BES(3)), starting from r>0 at its ultimate minimum. An ultimate minimum of a stochastic process may be seen as a state of a process at a last hitting time. This discussion is strongly motivated by our interest in properties of last hitting times in general, and here specifically, directly linked with the reading guide of Nikeghbali and Platen (2013).