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Discrete-Time Semi-Markov Random Evolutions and Their Applications by Nikolaos Limnios

Discrete-Time Semi-Markov Random Evolutions and Their Applications

by Nikolaos Limnios
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Book cover type: Hardcover
  • ISBN13: 9783031334283
  • Binding: Hardcover
  • Subject: N/A
  • Publisher: Springer
  • Publisher Imprint: Birkhauser
  • Publication Date:
  • Pages: 198
  • Original Price: EUR 119.99
  • Language: English
  • Edition: 2023
  • Item Weight: 481 grams
  • BISAC Subject(s): Probability & Statistics / Stochastic Processes, Applied, and Mathematical Analysis

From the Back Cover
This book extends the theory and applications of random evolutions to semi-Markov random media in discrete time, essentially focusing on semi-Markov chains as switching or driving processes. After giving the definitions of discrete-time semi-Markov chains and random evolutions, it presents the asymptotic theory in a functional setting, including weak convergence results in the series scheme, and their extensions in some additional directions, including reduced random media, controlled processes, and optimal stopping. Finally, applications of discrete-time semi-Markov random evolutions in epidemiology and financial mathematics are discussed. This book will be of interest to researchers and graduate students in applied mathematics and statistics, and other disciplines, including engineering, epidemiology, finance and economics, who are concerned with stochastic models of systems.

Nikolaos Limnios is a Professor at the Applied Mathematics Laboratory at the Université de Technologie de Compiègne, France. His research interests include stochastic processes, random evolutions, with a focus on semi-Markov processes, and statistics, and applications in reliability, biology, seismology, insurance, and finance. He has published more than 150 journal articles and 10 books on the theory and applications of stochastic processes and statistics. He serves on editorial boards for several research journals.

Anatoliy Swishchuk is a Professor in Mathematical Finance at the Department of Mathematics and Statistics, University of Calgary, Canada. His research areas include financial mathematics, random evolutions and their applications, biomathematics, and stochastic calculus. He serves on editorial boards for several research journals and is the author of more than 180 publications, including 15 books and more than 120 articles in peer-reviewed journals. In 2018 he received a Peak Scholar award.

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