APPLICATIONS AND COMPUTER SIMULATIONS OF MARKOV CHAINS

Sanda Micula () and Rodica Sobolu ()
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Sanda Micula: Babes-Bolyai University, Cluj-Napoca, Romania
Rodica Sobolu: University of Agricultural Sciences and Veterinary Medicine, Cluj-Napoca, Romania

Journal of Information Systems & Operations Management, 2017, vol. 11, issue 2, 243-253

Abstract: In this paper we discuss Markov chains, theoretical results, applications and algorithms for computer simulations in MATLAB. We describe the use of Monte Carlo methods for estimating probabilities and other characteristics relating to Markov chains. The paper concludes with some interesting applications.

Keywords: markov chains; stochastic processes; computer simulations; monte carlo (search for similar items in EconPapers)
Date: 2017
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http://www.rebe.rau.ro/RePEc/rau/jisomg/WI17/JISOM-WI17-A03.pdf (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:rau:jisomg:v:11:y:2017:i:2:p:243-253

DOI: 10.5281/zenodo.21826044

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