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In this rigorous account the author studies both discretetime and continuoustime chains A distinguishing feature is an introduction to more advanced topics such as martingales and potentials in the established context of Markov chains There are applications to simulation economics optimal control genetics queues and many other topics and a careful selection of exercises and examples drawn both from theory and practice This is an ideal text for seminars on random processes or for those that are more oriented towards applications for advanced undergraduates or graduate students with some background in basic probability theory
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Meyn and Tweedie is back The bible on Markov chains in general state spaces has been brought up to date to reflect developments in the field since 1996 many of them sparked by publication of the first edition The pursuit of more efficient simulation algorithms for complex Markovian models or algorithms for computation of optimal policies for controlled Markov models has opened new directions for research on Markov chains As a result new applications have emerged across a wide range of topics including optimisation statistics and economics New commentary and an epilogue by Sean Meyn summarise recent developments and references have been fully updated This second edition reflects the same discipline and style that marked out the original and helped it to become a classic proofs are rigorous and concise the range of applications is broad and knowledgeable and key ideas are accessible to practitioners with limited mathematical background
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