Markov chain hitting times

Date

2012

Authors

Elliott, R.
Van Der Hoek, J.
Sworder, D.

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Journal article

Citation

Stochastic Analysis and Applications, 2012; 30(5):827-830

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Robert J. Elliott, John van der Hoek and David Sworder

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Abstract

A cost process is associated with a discrete time, finite state Markov chain. Using backward recursion, the distribution of the first time the cost falls below a given level is calculated.

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Copyright © Taylor & Francis Group, LLC

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