Periodicity of equilibrium structures in a time dependent markov model under stochastic environment

N. Tsantas and A. C. Georgiou

Applied Stochastic Models and Data Analysis, 1994, vol. 10, issue 4, 269-277

Abstract: The problem of periodicity for a non–homogeneous Markov model in a stochastic environment is studied. The stochastic concept is established through the notion of optional scenarios applied on the transition process. It is proved that the sequence of so–called aggregate structures follows a certain periodic pattern that can split into converging subsequences according to alternative policies. These limits are highly influenced by the different scenarios utilized in the model, but always lie on a convex region that also depends on the pool of alternatives.

Date: 1994
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Persistent link: https://EconPapers.repec.org/RePEc:wly:apsmda:v:10:y:1994:i:4:p:269-277

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