due to the effective role of markov models in customer relationship management (crm), there is a lack of comprehensive literature review which contains all related literatures. in this paper the focus is on academic databases to find all the articles that had been published in 2011 and earlier. one hundred articles were identified and reviewed to find direct relevance for applying markov models...

This paper is intended to provide a numerical algorithm based on random sampling for solving the linear Volterra integral equations of the second kind. This method is a Monte Carlo (MC) method based on the simulation of a continuous Markov chain. To illustrate the usefulness of this technique we apply it to a test problem. Numerical results are performed in order to show the efficiency and accu...

investors use different approaches to select optimal portfolio. so, optimal investment choices according to return can be interpreted in different models. the traditional approach to allocate portfolio selection called a mean - variance explains. another approach is markov chain. markov chain is a random process without memory. this means that the conditional probability distribution of the nex...

A transformation mapping a labelled Markov chain to a simple stochastic game is presented. In the resulting simple stochastic game, each vertex corresponds to a pair of states of the labelled Markov chain. The value of a vertex of the simple stochastic game is shown to be equal to the probabilistic bisimilarity distance, a notion due to Desharnais, Gupta, Jagadeesan and Panangaden, of the corre...

In this paper, the ambiguity of nite state irreducible Markov chain trajectories is reminded and is obtained for two state Markov chain. I give an applicable example of this concept in President election