Applied Semi-Markov Processes

✍ Scribed by Jacques Janssen, Raimondo Manca (auth.)

• Publisher: Springer US
• Year: 2006
• Tongue: English
• Leaves: 314
• Edition: 1
• Category: Library

✦ Synopsis

Applied Semi-Markov Processes aims to give to the reader the tools necessary to apply semi-Markov processes in real-life problems. The book is self-contained and, starting from a low level of probability concepts, gradually brings the reader to a deep knowledge of semi-Markov processes. The book presents homogeneous and non-homogeneous semi-Markov processes, as well as Markov and semi-Markov rewards processes. These concepts are fundamental for many applications, but they are not as thoroughly presented in other books on the subject as they are here.

Audience

This book is intended for graduate students and researchers in mathematics, operations research and engineering; it might also appeal to actuaries and financial managers, and anyone interested in its applications for banks, mechanical industries for reliability aspects, and insurance companies.

✦ Table of Contents

Probability Tools for Stochastic Modelling....Pages 1-44
Renewal Theory....Pages 45-104
Markov Chains....Pages 105-143
Markov Renewal Processes, Markov Random Walks and Semi-Markov Processes....Pages 145-191
Functionals of (J-X) Processes....Pages 193-225
Non-Homogeneous Markov and Semi-Markov Processes....Pages 227-245
Markov and Semi-Markov Reward Processes....Pages 247-293

✦ Subjects

Probability Theory and Stochastic Processes; Mathematical Modeling and Industrial Mathematics; Quality Control, Reliability, Safety and Risk; Finance /Banking