Discrete First Passage Time Distribution for Describing Inequality among Individuals
The first passage time distribution of a random walk is extended in various ways to describe flexibly the distribution of time until transition. A random walk model, more generally a Markov chain model, provides us with a latent structure. On the other hand, the first passage time distribution describes observed data. Our special interest is in the possible causes of the distribution of time until transition. The latent structure model assumes two types of inequality as a cause; inequality of the ability among individuals and inequality due to an incidental position of an individual.
KeywordsRandom Walk Markov Chain Model Random Walk Model Positive Mass Chess Player
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