Finite Markov Chains - ISBN:3540901922

Finite Markov Chains

Date: 14 April 2011, 02:06

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The basic concepts of Markov chains were introduced by A. A. Markov in 1907. Since that time Markov chain theory has been developed by a number of leading mathematicians. It is only in very recent times that the importance of Markov chain theory to the social and biological sciences has become recognized. This new interest has, we believe, produced a real need for a treatment, in English, of the basic ideas of finite Markov chains.
By restricting our attention to finite chains, we are able to give quite a complete treatment and in such a way that a minimum amount of mathematical background is needed. For example, we have written the book in such a way that it can be used in an undergraduate probability course, as well as a reference book for workers in fields outside of mathematics.
The restriction of this book to finite chains has made it possible to give simple, closed-form matrix expressions for many quantities usually given as series. It is shown that it suffices for all types of problems to consider just two types of Markov chains, namely absorbing and ergodic chains. A "fundamental matrix" is developed for each type of chain, and the other interesting quantities are obtained from the fundamental matrices by elementary matrix operations.

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