11 Models for Stochastic Processes

• 11.1 Continuous-Time Markov Chains
• 11.2 Realization of the Process
• 11.3 Discrete-Time Markov Chains
• 11.4 Examples of Stochastic Processes
• 11.5 Assessment of Stochastic Models
• 11.6 Exercises
• Bibliography

Models
Stochastic Processes

• Terminology
• ATM Example

12 Discrete-Time Markov Chains

• 12.1 Transition Matrix
• 12.2 Multi-Step Transitions
• 12.3 Steady-State Solutions
• 12.4 Economic Analysis
• 12.5 Applications
• 12.6 Exercises
• Bibliography

Models
Discrete Time Markov Chains

• Example Problem

Computation
Stochastic Models Add-in

• Constructing a Predefined Model
• Constructing a General Model

13 Mathematics of Discrete-Time Markov Chains

• 13.1 State-Transition Probabilities
• 13.2 Classification of States
• 13.3 Multi-Step Transition Matrix
• 13.4 Transient Probability Vector
• 13.5 Steady-State Probabilities
• 13.6 Economic Analysis
• 13.7 First Passage Times
• 13.8 Absorbing State Probabilities
• 13.9 Exercises
• Bibliography

Computation
Stochastic Analysis Add-in

• Discrete-Time Markov Chain
• Continuous-Time Markov Chain