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 ...
This paper demonstrates the applicability of Markov chains to naval minesweeping theory, particularly influence sweeping against mines equipped with shipcounters. Following an introduction to ...
This paper deals with censoring of infinite-state banded Markov chains. Censoring involves reducing the time spent in states outside a certain set of states to 0 without affecting the number of visits ...
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 ...
Download PDF More Formats on IMF eLibrary Order a Print Copy Create Citation This paper outlines a way to estimate transition matrices for use in credit risk modeling with a decades-old methodology ...
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