{"paper":{"title":"Conditional Path Decomposition at the Infimum and Maximum Drawdowns for Spectrally Negative L\\'{e}vy Processes","license":"http://creativecommons.org/licenses/by/4.0/","headline":"","cross_cats":[],"primary_cat":"math.PR","authors_text":"Ceren Vardar Acar, Mine \\c{C}a\\u{g}lar","submitted_at":"2026-06-25T22:00:47Z","abstract_excerpt":"We study maximum-drawdown laws conditioned on extremes for a spectrally negative L\\'evy process and observed up to an independent exponential time. The main contribution is a set of scale-function characterizations of the pre-infimum path arising from two decompositions of the process. The first is the decomposition at the infimum into pre-infimum and post-infimum components. The second, under the ordering in which the infimum is attained before the supremum, decomposes the path into pre-infimum, intermediate, and post-supremum components. We also identify the distribution of the supremum for "},"claims":{"count":0,"items":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"source":{"id":"2606.27573","kind":"arxiv","version":1},"verdict":{"id":null,"model_set":{},"created_at":null,"strongest_claim":"","one_line_summary":"","pipeline_version":null,"weakest_assumption":"","pith_extraction_headline":""},"integrity":{"clean":true,"summary":{"advisory":0,"critical":0,"by_detector":{},"informational":0},"endpoint":"/pith/2606.27573/integrity.json","findings":[],"available":true,"detectors_run":[],"snapshot_sha256":"c28c3603d3b5d939e8dc4c7e95fa8dfce3d595e45f758748cecf8e644a296938"},"references":{"count":0,"sample":[],"resolved_work":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57","internal_anchors":0},"formal_canon":{"evidence_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"author_claims":{"count":0,"strong_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"builder_version":"pith-number-builder-2026-05-17-v1"}