Conditional maximal distributions of processes related to higher-order heat-type equations

The conditional Feynman–Kac functional is used to derive the Laplace transforms of conditional maximum distributions of processes related to third- and fourth-order equations. These distributions are then obtained explicitly and are expressed in terms of stable laws and the fundamental solutions of these higher-order equations. Interestingly, it is shown that in the third-order case, a genuine non-negative real-valued probability distribution is obtained.