A new preorder relation is introduced that orders states of a Markov process with an additional reward structure according to the reward gained over any interval of finite or infinite length. The relation allows the comparison of different Markov processes and includes as special cases monotone and lumpable Markov processes.
- Comparison of Markov processes
- Discrete time Markov chains
- Stochastic orders
ASJC Scopus subject areas
- Statistics and Probability
- Statistics, Probability and Uncertainty