High-order Markov chain models extend the conventional framework by incorporating dependencies that span several previous states rather than solely the immediate past. This extension allows for a ...

This is a preview. Log in through your library . Abstract We describe movement patterns of hatchery-raised, juvenile, spring chinook salmon, Oncorhynchus tshawytscha, using a two-state Markov chain ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

The lognormal-gamma distribution, being a heavy-tailed distribution, is very attractive from an operational risk modeling perspective because historical operational losses also exhibit heavy tails.