Applied Semi-Markov Processes [electronic resource] /
Janssen, Jacques.author.
Manca, Raimondo.author.
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.
Description based upon print version of record.
Includes bibliographical references (p. [295]-302) and indexes.
Probability Tools for Stochastic Modelling -- Renewal Theory -- Markov Chains -- Markov Renewal Processes, Markov Random Walks and Semi-Markov Processes -- Functionals of (J-X) Processes -- Non-Homogeneous Markov and Semi-Markov Processes -- Markov and Semi-Markov Reward Processes.
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.
Probabilities.
Public finance.
Applied mathematics.
Engineering mathematics.
Mathematical models.
Quality control.
Reliability.
Industrial safety.
Finance.
Probability Theory and Stochastic Processes.
Public Economics.
Applications of Mathematics.
Mathematical Modeling and Industrial Mathematics.
Quality Control, Reliability, Safety and Risk.
Finance, general.