Probabilistic representation formula for the solution of fractional high   order heat-type equations
  We propose a probabilistic construction for the solution of a general class of fractional high order heat-type equations in the one-dimensional case, by using a sequence of random walks in the complex plane with a suitable scaling. A time change governed by a class of subordinated processes allows to handle the fractional part of the derivative in space. We first consider evolution equations with space fractional derivatives of any order, and later we show the extension to equations with time fractional derivative (in the sense of Caputo derivative) of order $\alpha \in (0,1)$. 
Stefano Bonaccorsi, Mirko D'Ovidio, Sonia Mazzucchi
math.PR