Matrix Method for Assessing Economic Efficiency of Systems Simulated with Asymmetric Markov Discrete Chains

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Title: Matrix Method for Assessing Economic Efficiency of Systems Simulated with Asymmetric Markov Discrete Chains

Authors: Victor Kravets, Vladimir Kravets, Olexiy Burov

ABSTRACT. Markov discrete chains of an asymmetric structure which model random processes are examined. A method is offered for economic efficiency estimation of engineering systems and biological systems, with a use of Markov discrete chains model. The method is applied on monosystem, bisystem, trisystem and generalized for polysystem. Following the actual terminological pattern of “transition probability matrix” and “states’ probabilities on particular stages”, the transition cost matrix and respective terminology were introduced: mathematical expectation of cost for each possible system’s state transition on the stage being analyzed; mathematical expectation of cost for system random wandering (transitioning) throughout possible states in finite set of steps; cost of Markov random system wandering (transitioning) in defined and limited time interval.

Keywords: Markov discrete chains, possible states, transition probabilities matrix, transition costs matrix, mathematical expectations of transitions costs, cost of Markov random process

DOI 10.2415/mmse.82.25.192

Prefix lookup [http://seo4u.link/10.2415]

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Original url [http://asdej.xyz/asde-journal-vol-1/matrix-method-for-assessing-economic-efficiency-of-systems-simulated-with-asymmetric-markov-discrete-chains/]


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