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Markov Processes

  • Erhan Çınlar
Chapter
Part of the Graduate Texts in Mathematics book series (GTM, volume 261)

Abstract

A stochastic process is said to have the Markov property if, at every instant, given the past until that instant, the conditional probability law governing its future depends only on its present state. This property is the probabilistic generalization of the classical notion that, if the present state of a physical system is described in sufficient detail, the system’s future evolution would be determined by the present state, without regard to how the system arrived at that state.

Keywords

Brownian Motion Markov Process Wiener Process Markov Property Jump Time 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media, LLC 2011

Authors and Affiliations

  1. 1.Princeton UniversityPrincetonUSA

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