Pseudoprocesses related to space-fractional higher-order heat-type equations

Abstract: In this paper we construct pseudo random walks (symmetric and asymmetric) which converge in law to compositions of pseudoprocesses stopped at stable subordinators. We find the higher-order space-fractional heat-type equations whose fundamental solutions coincide with the law of the limiting pseudoprocesses. The fractional equations involve either Riesz operators or their Feller asymmetric counterparts. The main result of this paper is the derivation of pseudoprocesses whose law is governed by heat-type equations of real-valued order $\gamma>2$. The classical pseudoprocesses are very special cases of those investigated here.