Continuous-Time Markov Models

Chapter
Part of the Springer Texts in Statistics book series (STS)

Abstract

In this chapter, we consider a system that is observed continuously, with X(t) being the state at time t, t ≥0. Following the definition of DTMCs, we define continuoustime Markov chains (CTMCs) below.

Keywords

Income Expense 

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Copyright information

© Springer Science+Business Media, LLC 2011

Authors and Affiliations

  1. 1.Department of Statistics and Operations ResearchUniversity of North CarolinaChapel HillUSA

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