ENGLISH

Discrete-Time Semi-Markov Random Evolutions and Their Applications

By Nikolaos Limnios , Anatoliy Swishchuk

Book information

Publisher
Birkhäuser
Year
2023
ISBN
9783031334283, 9783031334290
DOI
10.1007/978-3-031-33429-0
Language
english
Format
PDF
Filesize
4 MB (4668202 bytes)
Series
Probability and Its Applications
Edition
1
Pages
198\206
Orientation
yes
Paginated
no
Scanned
portrait
Time added
2023-07-25 13:48:00
Random EvolutionSemi-Markov Chains

Description

This book extends the theory and applications of random evolutions to semi-Markov random media in discrete time, essentially focusing on semi-Markov chains as switching or driving processes. After giving the definitions of discrete-time semi-Markov chains and random evolutions, it presents the asymptotic theory in a functional setting, including weak convergence results in the series scheme, and their extensions in some additional directions, including reduced random media, controlled processes, and optimal stopping. Finally, applications of discrete-time semi-Markov random evolutions in epidemiology and financial mathematics are discussed. This book will be of interest to researchers and graduate students in applied mathematics and statistics, and other disciplines, including engineering, epidemiology, finance and economics, who are concerned with stochastic models of systems.

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