Stopping times are hitting times: a natural representation
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🧮 math.PR
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timesstoppinghittingadaptedalwaysconsequencedidacticallyexists
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There exists a simple, didactically useful one-to-one relationship between stopping times and adapted c\`agl\`ad (LCRL) processes that are non-increasing and take the values 0 and 1 only. As a consequence, stopping times are always hitting times.
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