Their memoryless nature (Markov property) has to do with the fact that the next state each time is independent of the preceding states. More formally: With a set of states \(\{\xi _1, \xi _2, ..,\xi _r\}\) the process moves successively from one state to another in so-called ...
Internet of Things (IoT) is an emerging technological paradigm where the things can be connected from different fields through the Internet. The rapid advancement in communication technologies, actuators and low-cost sensing devices leads to extensive de
Mainstream economic models, which typically exclude physical transactions between the economy and the biosphere, are incomplete: wastes, pollution, natural resource extraction, and use of ecosystem services are not included. When economic policy is infor