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This approach can be applied to both the time homogeneous and heterogeneous processes.
However, as climatic drivers change over time, homogeneous regions should vary when the intra-annual patterns are of interest.
In this work, we consider only time homogeneous DTMCs.
A DTMC is said to be time homogeneous, if is independent of.
It is challenging to take the finite horizon case into consideration since the debt values are no longer time homogeneous.
Single server queueing system with time homogeneous breakdowns and deterministic repair times was analyzed by [Madan (2003]).
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A discrete-time homogeneous Markov chain, whose state transition probability matrix is partially unknown, is employed to model the random transmission delays.
The interaction among agents is governed by a continuous-time homogeneous Markov process, whose state space corresponds to all the possible communication topologies.
The evolution of the delay is modeled by a continuous-time homogeneous Markov process with a finite number of states.
A popular specification for credit-rating transitions is the simple, time-homogeneous Markov model.
In the study, the packet dropouts are modeled by a time-homogeneous Markov process.
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