The Application of Markov Chain in China’s Market Economy

DOI

10.2991/asshm-13.2013.20How to use a DOI?

Keywords

Markov Chains, Matrix of Transition Probability, Stationary Distribution, Decision-Making

Abstract

The Markov Chain, Which named after Russia mathematician A.A.Markov, has been widely used not only in other branches of mathematic,engineering technique, but also in the social science, for example: economies, insurance, fi-nancial risk, risk manage theory and technique. Markov Chain was used to forecast the percent of market share and profit of manufactures in this article. Different models were constructed to make better decision-making so as to obtain more profit.

Copyright

© 2013, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Qing-xin Zhou
PY  - 2013/12
DA  - 2013/12
TI  - The Application of Markov Chain in China’s Market Economy
BT  - Proceedings of the 2013 International Conference on Advances in Social Science, Humanities, and Management
PB  - Atlantis Press
SP  - 107
EP  - 110
SN  - 1951-6851
UR  - https://doi.org/10.2991/asshm-13.2013.20
DO  - 10.2991/asshm-13.2013.20
ID  - Zhou2013/12
ER  -