Markov Chains are described via a discrete time evolution where the transition matrix is time invariant. This is known as the Markov property or the memory-less property. This is formalised as ,with a transition rate matrix which determines .
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Markov Chains are described via a discrete time evolution where the transition matrix is time invariant. This is known as the Markov property or the memory-less property. This is formalised as {Xn}n∈Z+ ,with a transition rate matrix T which determines P[Xn+1=α∣Xn=β]=T(β,α).