Embedding techniques for Markov chains seek to determine when a discrete‐time transition matrix can be realised as the matrix exponential of a continuous‐time generator. This embedding problem lies at ...

This paper outlines a way to estimate transition matrices for use in credit risk modeling with a decades-old methodology that uses aggregate proportions data. This methodology is ideal for credit-risk ...

Markov Models for disease progression are common in medical decision making (see references below). The parameters in a Markov model can be estimated by observing the time it takes patients in any ...