Markov chains are frequently used in Operational Research to describe how a system changes over time, its behaviour being governed by its transition matrix. This paper describes a technique for ...

The number of iterations required to estimate accurately the stationary distribution of a Markov chain is determined by a preliminary sample to estimate the convergence rate, which is related to the ...

Cost-effectiveness studies of medical innovations often suffer from data inadequacy. When Markov chains are used as a modeling framework for such studies, this data inadequacy can manifest itself as ...