investors use different approaches to select optimal portfolio. so, optimal investment choices according to return can be interpreted in different models. the traditional approach to allocate portfolio selection called a mean - variance explains. another approach is markov chain. markov chain is a random process without memory. this means that the conditional probability distribution of the nex...

In this paper, we are discuss about the issue of synchronization for singular complex dynamical networks with Markovian jumping parameters and additive time-varying delays through pinning control by Takagi-Sugeno (T-S) fuzzy theory.The complex dynamical systems consist of m nodes and the systems switch from one mode to another, a Markovian chain with glorious transition probabili...

The notion of equivalence that is typically used to relate Markovian process terms and to reduce their underlying state spaces is Markovian bisimilarity. The reason is that, besides being a congruence, Markovian bisimilarity is consistent with ordinary lumping, an exact aggregation for Markov chains. In this paper we show that two non-bisimulation-based Markovian behavioral equivalences – Marko...

In this paper we consider existing and new representation transformation methods for non-Markovian generalizations of Markov chain driven stochastic models which intend transforming non-Markovian representations into Markovian ones and evaluate their efficiency through numerical experiments. One of the new features of the considered methods is the ability to obtain a Markovian representation of...

In this paper, finite phase semi-Markov processes are introduced. By introducing variables and a simple transformation, every finite phase semi-Markov process can be transformed to a finite Markov chain which is called its associated Markov chain. A consequence of this is that every phase semi-Markovian switching system may be equivalently expressed as its associated Markovian switching system....

This paper presents the analysis of a renewal input  finite buffer queue wherein the customers can decide either to  join the queue with a probability or balk. The service process is Markovian service process ($MSP$) governed  by an underlying $m$-state Markov chain. Employing the supplementary  variable and imbedded Markov chain techniques,   the steady-state system length distributions at pre...

The behavioral equivalence that is typically used to relate Markovian process terms and to reduce their underlying state spaces is Markovian bisimilarity. One of the reasons is that Markovian bisimilarity is consistent with ordinary lumping. The latter is an aggregation for Markov chains that is exact, hence it guarantees the preservation of the performance characteristics across Markovian bisi...