Introduction to Stochastic Processes Using R

This textbook presents some basic shastic processes, mainly Markov processes. It begins with a brief introduction to the framework of shastic processes followed by the thorough discussion on Markov chains, which is the simplest and the most important class of shastic processes. The book then elaborates the theory of Markov chains in detail including classification of states, the first passage distribution, the concept of periodicity and the limiting behaviour of a Markov chain in terms of a...