From csaavedra@igalia.com Tue Aug 24 13:52:12 2010 Return-path: Envelope-to: csaavedra@igalia.com Delivery-date: Tue, 24 Aug 2010 13:52:12 +0200 Received: from fanzine.local.igalia.com ([192.168.10.13] helo=fanzine.igalia.com) by mail.igalia.com with esmtps (Cipher TLS1.0:RSA_AES_256_CBC_SHA1:32) (Exim) id 1Ons32-0001RJ-N5 for ; Tue, 24 Aug 2010 13:52:12 +0200 Received: from fanzine.igalia.com ([93.93.128.226]) by fanzine.igalia.com with esmtps (Cipher TLS1.0:DHE_RSA_AES_256_CBC_SHA1:32) (Exim) id 1Ons32-0007y8-Ag for ; Tue, 24 Aug 2010 13:52:12 +0200 Received: from [127.0.0.1] (localhost [127.0.0.1]) (Authenticated sender: rodarvus) with ESMTPSA id 512966002AC Message-ID: <4C73B254.4040703@igalia.com> Date: Tue, 24 Aug 2010 08:51:48 -0300 From: Claudio Saavedra User-Agent: Mozilla/5.0 (Windows; U; Windows NT 6.1; en-US; rv:1.9.2.8) Gecko/20100802 Lightning/1.0b2 Thunderbird/3.1.2 MIME-Version: 1.0 To: Claudio Saavedra Subject: Buggy email Content-Type: multipart/alternative; boundary="------------050200060707050507090201" This is a multi-part message in MIME format. --------------050200060707050507090201 Content-Type: text/plain; charset=ISO-8859-1; format=flowed Content-Transfer-Encoding: 7bit --------------050200060707050507090201 Content-Type: multipart/related; boundary="------------070301050705020401000406" --------------070301050705020401000406 Content-Type: text/html; charset=ISO-8859-1 Content-Transfer-Encoding: 7bit Markiv - Listening to You markov - Listening to You

 

 

 

 

 

 

 

 

 

 

 

 

 

Chemistry is often a place where Markov chains and continuous-time Markov processes are especially useful, because these simple physical systems tend to satisfy the Markov property quite well. The classical model of enzyme activity, Michaelis-Menten kinetics, can be viewed as a Markov chain, where at each time step the reaction proceeds in some direction. While Michaelis-Menten is fairly straightforward, far more complicated reaction networks can also be modeled with Markov chains.

 

 Markov chains are used in Finance and Economics to model a variety of different phenomena, including asset prices and market crashes. The first financial model to use a Markov chain was from Prasad et al in 1974.[9] Another was the regime-switching model of James D. Hamilton (1989), in which a Markov chain is used to model switches between periods of high volatility and low volatility of asset returns.[10] A more recent example is the Markov Switching Multifractal asset pricing model, which builds upon the convenience of earlier regime-switching models.[11] It uses an arbitrarily large Markov chain to drive the level of volatility of asset returns.

 

 


 

 

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