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What is Markov Chains

Chapter 10
Handbook of Research on Holistic Optimization Techniques in the Hospitality, Tourism, and Travel Industry
A random process that undergoes transitions from one state to another on a state space. It must possess a property that is usually characterized as “memorylessness”: the probability distribution of the next state depends only on the current state and not on the sequence of events that preceded it. This specific kind of “memorylessness” is called the Markov property.
Published in Chapter:
An Overview of Tourism Supply Chains Management and Optimization Models (TSCM – OM)
Jonnatan F. Avilés-González (Tecnológico de Monterrey, Mexico), Sonia Valeria Avilés-Sacoto (Tecnológico de Monterrey, Mexico), and Leopoldo Eduardo Cárdenas-Barrón (Tecnológico de Monterrey, Mexico)
Copyright: © 2017 |Pages: 24
DOI: 10.4018/978-1-5225-1054-3.ch010
Abstract
Around the world tourism industry represents economic benefits to the countries in where the tourist attractions are located. The purpose of this chapter is to search and review recent researches related to the area of tourism under supply chain management and optimization models perspectives. The main aim of this chapter is to identify and discuss how the tourism supply chain is studied when it is subject to different economic, market, and optimization strategies. Considering the period of 2005 to 2016, a systematic review was performed using research studies in the area of tourism supply chain management. The results show that game theory is used as a theoretical base in the majority of the cases, but several novel approaches are also incorporated to the analysis. This review can be used as a complement of the previous works and a valuable information source for the decision makers involved in the tourism area.
Full Text Chapter Download: US $37.50 Add to Cart
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Chapter 2
Optimization of Maintenance in Critical Equipment in Neonatology
A stochastic process in which, if the current state and the previous states are known, the probability of a future state depends only on the current state and not on the previous states.
Published in Chapter: Optimization of Maintenance in Critical Equipment in Neonatology; From: Handbook of Research on Data Science for Effective Healthcare Practice and Administration
Full Text Chapter Download: US $37.50 Add to Cart
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