This paper is concerned with the solution of the optimal stopping problem associated to the value of American options driven by continuous-time Markov chains. The valuefunction of an American option ...

Bunches of individual customers approach a single servicing facility according to a stationary compound Poisson process. The resulting waiting line process is studied in continuous time by the method ...

The ability to deal with unseen objects in a zero-shot manner makes machine learning models very attractive for applications in robotics, allowing robots to enter previously unseen environments and ...

Simulated packets arrivals with Bernoulli distribution and the packets’ size are in three different distributions which are deterministic, geometric and binomial respectively. The buffer size is ...

Markov chain models and phase-type distributions have emerged as powerful tools in healthcare analytics, offering a robust framework for understanding and predicting patient trajectories throughout ...

What if you could predict the future, not with a crystal ball, but with math? In this guide, Veritasium explains how a 120-year-old concept called Markov chains has become a silent force shaping ...