Ross, Sheldon M.; Schechner, Zvi - In: Management Science 31 (1985) 2, pp. 224-234
Consider a discrete time Markov process {X<sub>n</sub>, n 0}. For a given subset \scr{A} of the state space, consider the problem of using simulation to estimate the number of transitions it takes the process to enter \scr{A}. Using estimators based on the "observed hazard," we are able to improve on the...