Markov Processes and Controlled Markov Chains

Markov Processes and Controlled Markov Chains by Zhenting Hou, published by Springer Science & Business Media on September 30, 2002, spans 511 pages and is presented in English. This volume explores the evolution of stochastic processes and the specialized theory of Markov processes, emphasizing the synergies between these areas and the contributions from the Chinese school of probability. It serves as a comprehensive resource for understanding the advancements in controlled Markov chains and their applications in various fields.
Readers will find a detailed examination of the connections between modern Markov processes and controlled Markov chains, reflecting both the maturity and vitality of these subjects. The chapters highlight the collaborative efforts of scholars from diverse regions, including Europe, the US, and Asia, showcasing the global impact of research in decision-making and operations research. This edition offers insights into the mathematical foundations and practical implications of these theories, making it a valuable reference for those interested in probability, statistics, and their applications in science and economics.
Official synopsis Publisher
The general theory of stochastic processes and the more specialized theory of Markov processes evolved enormously in the second half of the last century. In parallel, the theory of controlled Markov chains (or Markov decision processes) was being pioneered by control engineers and operations researchers. Researchers in Markov processes and controlled Markov chains have been, for a long time, aware of the synergies between these two subject areas. However, this may be the first volume dedicated to highlighting these synergies and, almost certainly, it is the first volume that emphasizes the contributions of the vibrant and growing Chinese school of probability. The chapters that appear in this book reflect both the maturity and the vitality of modern day Markov processes and controlled Markov chains. They also will provide an opportunity to trace the connections that have emerged between the work done by members of the Chinese school of probability and the work done by the European, US, Central and South American and Asian scholars.
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