Discover how Markov chains predict real systems, from Ulam and von Neumann’s Monte Carlo to PageRank, so you can grasp ...
High-order Markov chain models extend the conventional framework by incorporating dependencies that span several previous states rather than solely the immediate past. This extension allows for a ...
We focus our attention herein on a Markov chain $x_0, x_1, \cdots$ with a countable number of states indexed by a subset I of the integers and with stationary ...
Data Uncertainty in Markov Chains: Application to Cost-Effectiveness Analyses of Medical Innovations
Goh, Joel, Mohsen Bayati, Stefanos A. Zenios, Sundeep Singh, and David Moore. "Data Uncertainty in Markov Chains: Application to Cost-Effectiveness Analyses of Medical Innovations." Operations ...
Software engineer Sai Bhargav Yalamanchi notes that mathematical tools helping practitioners interpret uncertainty have ...
This paper is concerned with the solution of the optimal stopping problem associated to the value of American options driven by continuous-time Markov chains. The valuefunction of an American option ...
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