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Periodicity of equilibrium structures in a time dependent markov model under stochastic environment

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  • N. Tsantas
  • A. C. Georgiou

Abstract

The problem of periodicity for a non–homogeneous Markov model in a stochastic environment is studied. The stochastic concept is established through the notion of optional scenarios applied on the transition process. It is proved that the sequence of so–called aggregate structures follows a certain periodic pattern that can split into converging subsequences according to alternative policies. These limits are highly influenced by the different scenarios utilized in the model, but always lie on a convex region that also depends on the pool of alternatives.

Suggested Citation

  • N. Tsantas & A. C. Georgiou, 1994. "Periodicity of equilibrium structures in a time dependent markov model under stochastic environment," Applied Stochastic Models and Data Analysis, John Wiley & Sons, vol. 10(4), pages 269-277.
    • Handle: RePEc:wly:apsmda:v:10:y:1994:i:4:p:269-277
    DOI: 10.1002/asm.3150100405
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    Cited by:

    1. P. -C. G. Vassiliou, 2022. "Limiting Distributions of a Non-Homogeneous Markov System in a Stochastic Environment in Continuous Time," Mathematics, MDPI, vol. 10(8), pages 1-16, April.

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