Convergence of sums of records

Abstract : We study the properties of sums of lower records from a distribution on $[0,\infty)$ which is continuous, except possibly at the origin. We find necessary and sufficient condition for the partial sums of lower records to converge almost surely to a proper random variable. We derive an explicit formula for the Laplace transform of the limiting random variable and show that it is infinitely divisible. Further, we show that all infinitely divisible random variables with continuous Lévy measure on $[0, \infty)$ originate as infinite sums of lower records. If time permits, I will also discuss the rate of convergence of the tail of this convergent series.