A REVIEW OF THE ESTIMATION OF TRANSITION PROBABILITIES IN MARKOV CHAINS

A chronological review of the development of estimation procedures for unknown constant Markovian transition probabilities is presented with emphasis on applications involving the availability of macrodata, as opposed to microdata. Monte Carlo results comparing various estimation methods are analysed and several suggestions for estimating non-stationary probabilities are made.

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Year of publication:	1971
Authors:	Dent, Warren Thomas ; Ballintine, Richard
Published in:	Australian Journal of Agricultural Economics. - Australian Agricultural and Resource Economics Society - AARES. - Vol. 15.1971, 02
Publisher:	Australian Agricultural and Resource Economics Society - AARES
Subject:	Research Methods/ Statistical Methods

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Extent:	application/pdf
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005330577