Pasricha, Puneet; Selvamuthu, Dharmaraja - In: Financial innovation : FIN 7 (2021), pp. 1-22
This study proposes a non-homogeneous continuous-time Markov regenerative process with recurrence times, in particular, forward and backward recurrence processes. We obtain the transient solution of the process in the form of a generalized Markov renewal equation. A distinguishing feature is...
