At its core, a Markov chain is a model for predicting the next event in a sequence based only on its state. It possesses ...

Quantum Markov chains (QMCs) represent a natural quantum extension of classical Markov processes, encapsulating memoryless dynamics within quantum systems. They offer a powerful framework to model non ...

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What Is Markov Chain Monte Carlo? Markov Chain Monte Carlo (MCMC) is a powerful technique used in statistics and various scientific fields to sample from complex probability distributions. It is ...

Assortment planning is an important problem that arises in many industries such as retailing and airlines. One of the key challenges in an assortment planning problem is to identify the "right" model ...

Amid all the hype about AI it sometimes seems as though the world has lost sight of the fact that software such as ChatGPT contains no intelligence. Instead it’s an extremely sophisticated system for ...

We consider discrete-time Markov chains with Polish state space. The large deviations principle for empirical measures of a Markov chain can equivalently be stated in Laplace principle form, which ...