This article compares three binary Markov random fields (MRFs) which are popular Bayesian priors for spatial smoothing. These are the Ising prior and two priors based on latent Gaussian MRFs. Concern ...

While the use of Markov chains — a statistical framework to decipher the probability of one event transitioning to another — in finance is not a novel concept, it’s not deployed effectively. In my ...

Using a stochastic model for the evolution of discrete characters among a group of organisms, we derive a Markov chain that simulates a Bayesian posterior distribution on the space of dendograms. A ...

Brief review of conditional probability and expectation followed by a study of Markov chains, both discrete and continuous time. Queuing theory, terminology, and single queue systems are studied with ...