Semi-Markov Models and Applications

It is now clear that semi-Markov processes play an increasinglycrucial role in business and industry; this is partially due to thefact that, with the powerful mathematical software now existing, thenumerical treatment of basic integral equations is easier and so leadsto more concrete applications; moreover the development of topics suchas non-homogeneous models and statistical estimation make it possibleto construct more adequate models of real-life problems and tocalibrate the basic parameters of the models more accurately from realdata.This book presents many original models that are or could be trulyuseful for applications in real-life problems, and the editor hopesthat it will contribute to the stimulation of new interactions betweenthe theoretical development and the applications of semi-Markovmodels."Audience: " This book should constitute a basic reference forresearchers of this important field of stochastic modelling.Janssen, Jacques is the author of 'Semi-Markov Models and Applications' with ISBN 9780792359630 and ISBN 0792359631.