Markov Chains and Monte–Carlo Simulation.pdf

Markovchains–areafundamentalclassofstochasticmodelsforsequencesofnon–independentrandomvariables,i.e.ofrandomvariablespossessingaspecificdependencystructure.–havenumerousapplicationse.g.ininsuranceandfinance.–playalsoanimportantroleinmathematicalmodellingandanalysisinavarietyofotherfi