Abstract
In this chapter we start the general study of discrete-time Markov chains by focusing on the Markov property and on the role played by transition probability matrices. We also include a complete study of the time evolution of the two-state chain, which represents the simplest example of Markov chain.
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Bibliography
Norris, J.R.: Markov Chains. Cambridge Series in Statistical and Probabilistic Mathematics, vol. 2. Cambridge University Press, Cambridge (1998). Reprint of 1997 original
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© 2013 Springer Science+Business Media Singapore
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Privault, N. (2013). Discrete-Time Markov Chains. In: Understanding Markov Chains. Springer Undergraduate Mathematics Series. Springer, Singapore. https://doi.org/10.1007/978-981-4451-51-2_5
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DOI: https://doi.org/10.1007/978-981-4451-51-2_5
Publisher Name: Springer, Singapore
Print ISBN: 978-981-4451-50-5
Online ISBN: 978-981-4451-51-2
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