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What does the "^" represent in the statement below? It definitely doesn't mean to the power of as that makes no sense in this context. Thanks for the help!

Since X(t) is a pure death process with constant death rate , Y(t) can be viewed as a truncated Poisson process below N, namely, Y(t) has the same distribution as Z(t) ^ N where Z(t) is a Poisson process with parameter theta.

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What it says: $Z(t)$ truncated at $N$. – Arturo Magidin Mar 19 '11 at 3:09
up vote 4 down vote accepted

It isn't a very common notation, but generally A ^ B is sometimes used for shorthand for the minimum of A and B, so Z(t) ^ N is limiting values to be below N.

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