Encyclopedia of Operations Research and Management Science

2001 Edition
| Editors: Saul I. Gass, Carl M. Harris

Statistical equilibrium

Reference work entry
DOI: https://doi.org/10.1007/1-4020-0611-X_994

Let pij(t) be the probability that a stochastic process takes on value j at “time” t (discrete or continuous), given that it began at time 0 from state i. If pij(t) approaches a limit pj independent of i at t →∞ for all j, we say that the process is in statistical equilibrium. If a Markov chain has a limiting distribution, then this distribution is identical to the stationary one found by solving π = πP.v Limiting distribution; Markov chains; Markov processes; Stationary distribution; Steady-state distribution.

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© Kluwer Academic Publishers 2001

Authors and Affiliations

  1. 1.Robert H. Smith School of BusinessUniversity of MarylandCollege PartUSA
  2. 2.School of Information Technology & EngineeringGeorge Mason UniversityFairfaxUSA