Two approaches for model-based clustering of categorical time series based on time- homogeneous first-order Markov chains are discussed. For Markov chain clustering the in- dividual transition probabilities are fixed to a group-specific transition matrix. In a new approach called Dirichlet...

Two approaches for model-based clustering of categorical time series based on time- homogeneous first-order Markov chains are discussed. For Markov chain clustering the in- dividual transition probabilities are fixed to a group-specific transition matrix. In a new approach called Dirichlet...

The paper uses the framework of Markov chains to examine convergence in the location ofinward foreign direct investment across the regions of Great Britain over 1985-2005. Ananalysis is undertaken by industry group that disaggregates manufacturing and services. Itfinds convergence in regional...

Two approaches for model-based clustering of categorical time series based on time- homogeneous first-order Markov chains are discussed. For Markov chain clustering the in- dividual transition probabilities are fixed to a group-specific transition matrix. In a new approach called Dirichlet...