On Methods for Assessing Economic Efficiency with Asymmetric Markov Discrete Chains 

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Victor Kravets, Lutsenko I.M., Fedoriachenko S.O., Beshta O.O., Vesela M.A., Tverdohlib O.M (2016). On Methods for Assessing Economic Efficiency with Asymmetric Markov Discrete Chains . Mechanics, Materials Science & Engineering, Vol 5. doi:10.13140/RG.2.1.2824.85

Authors: Victor Kravets, Lutsenko I.M., Fedoriachenko S.O., Beshta O.O., Vesela M.A., Tverdohlib O.M

ABSTRACT. Markov discrete chains of an asymmetric structure which model random processes are examined. A method is offered for economic efficiency estimation of engineering systems and biological systems, with a use of Markov discrete chains model. The method is approved on monosystem, bisystem, triple system and generalized for polysystem. Following the actual terminological pattern of “transition probability matrix” and “system’s states’ probabilities on particular stages”, the transition cost matrix and respective terminology were introduced: mathematical expectation of cost for each possible system’s state transition on the stage being analyzed; mathematical expectation of cost for system random wandering (transitioning)  throughout possible states in finite set of steps; cost of Markov random system wandering (transitioning)  in defined and limited time interval.

 

Keywords: Markov discrete chains, possible states, transition probabilities matrix, transition costs matrix, mathematical expectations of transitions costs, cost of Markov random process.

DOI 10.13140/RG.2.1.2824.85

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