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Markov chains on completely regular semigroups

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  • Cerrito, P. B.

Abstract

We develop a Markov chain model consisting of three parts: (1) An initial decision which once made is irrevocable, (2) A set T of transient states representing indecision, (3) A set {C[Gamma]} of disjoint Markov chains representing divergent paths conditioned on the outcome of the initial choice. The method used to create this model is to utilize probabilities defined on algebraic structures. This concept gives a great deal of flexibility in terms of applications.

Suggested Citation

  • Cerrito, P. B., 1988. "Markov chains on completely regular semigroups," Stochastic Processes and their Applications, Elsevier, vol. 28(1), pages 23-30, April.
    • Handle: RePEc:eee:spapps:v:28:y:1988:i:1:p:23-30
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