With any Harris-recurrent Markov chain one can associate a sequence of random times at which the chain has the same distribution, and the chain can thereby be shown to be equivalent to one having a ...
Discover how Markov chains predict real systems, from Ulam and von Neumann’s Monte Carlo to PageRank, so you can grasp ...
We extend the definition of level-crossing ordering of stochastic processes, proposed by Irle and Gani (2001), to the case in which the times to exceed levels are compared using an arbitrary ...
Semi-Markov processes extend traditional Markov models by explicitly accounting for the time spent in each state before transitioning. This added temporal dimension is particularly valuable in credit ...
Forbes contributors publish independent expert analyses and insights. Dr. Lance B. Eliot is a world-renowned AI scientist and consultant. In today’s column, I closely examine an innovative way of ...
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