Continuous-Time Markov Chains and Applications

This book is concerned with continuous-time Markov chains. It develops an integrated approach to singularly perturbed Markovian systems, and reveals interrelations of stochastic processes and singular perturbations. In recent years, Markovian formulations have been used routinely for nu­ merous real-world systems under uncertainties. Quite often, the underlying Markov chain is subject to rather frequent fluctuations and the correspond­ ing states are naturally divisible to a number of groups suc