(1) In probability modeling, steady-state systems of equations for the state probabilities of a stochastic process found by equating transition rates. For Markov chains, such equations can be derived from the Kolmogorov differential equations or from the fact that the flow rate into a system state or level must equal the rate out of that state or level for steady state to be achieved. (2) In linear programming (usually referring to a production process model), constraints that express the equality of inflows and outflows of material. Markov chains.
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© 2001 Kluwer Academic Publishers
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Gass, S.I., Harris, C.M. (2001). BALANCE EQUATIONS . In: Gass, S.I., Harris, C.M. (eds) Encyclopedia of Operations Research and Management Science. Springer, New York, NY. https://doi.org/10.1007/1-4020-0611-X_53
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DOI: https://doi.org/10.1007/1-4020-0611-X_53
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