Asymptotic Behavior of Continuous‐Time Markov Chains
Eylem Tekin · Wiley Encyclopedia of Operations Research and Management Science · 2011
Abstract This article summarizes the theoretical foundations for analyzing the asymptotic behavior of continuous‐time Markov chains. We first introduce several concepts for classifying the states of a continuous‐time Markov chain. These concepts include irreducibility, recurrence, and transience. Then, we describe how to compute the limiting distribution of a continuous‐time Markov chain.