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Reversibility of Markov Chains with Applications to Storage Models
Journal of Applied Probability
Vol. 22, No. 1 (Mar., 1985), pp. 123-137
Published by: Applied Probability Trust
Stable URL: http://www.jstor.org/stable/3213752
Page Count: 15
You can always find the topics here!Topics: Markov chains, Transition probabilities, Insurance risk, Customers, Sufficient conditions, Mathematical theorems, Storage conditions, Markov processes, Dams, Perceptron convergence procedure
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This paper studies the reversibility conditions of stationary Markov chains (discrete-time Markov processes) with general state space. In particular, we investigate the Markov chains having atomic points in the state space. Such processes are often seen in storage models, for example waiting time in a queue, insurance risk reserve, dam content and so on. The necessary and sufficient conditions for reversibility of these processes are obtained. Further, we apply these conditions to some storage models and present some interesting results for single-server queues and a finite insurance risk model.
Journal of Applied Probability © 1985 Applied Probability Trust