Asymptotic Behavior of Continuous-Time Markov Chains
Published Online: 14 JAN 2011
Copyright © 2010 John Wiley & Sons, Inc. All rights reserved.
Wiley Encyclopedia of Operations Research and Management Science
How to Cite
Tekin, E. 2011. Asymptotic Behavior of Continuous-Time Markov Chains. Wiley Encyclopedia of Operations Research and Management Science. .
- Published Online: 14 JAN 2011
This article summarizes the theoretical foundations for analyzing the asymptotic behavior of continuous-time Markov chains. We first introduce several concepts for classifying the states of a continuous-time Markov chain. These concepts include irreducibility, recurrence, and transience. Then, we describe how to compute the limiting distribution of a continuous-time Markov chain.
- continuous-time Markov chains;
- discrete-time Markov chains;
- asymptotic behavior;
- balance equation;
- reducible Markov chains;
- irreducible Markov chains