Show that if (Y) is a Markov chain on two states, then the off-diagonal elements of (Y),

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Show that if \(Y\) is a Markov chain on two states, then the off-diagonal elements of \(Y\), in their columns, are proportional to the probabilities of a stationary distribution \(x\) of \(Y\). That is, ifimage text in transcribed

then \(\left(\begin{array}{ll}c & b\end{array}\right)=(c+b) x^{\top}\). Exactly when is \(x\) unique? Argue carefully.

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Game Theory Basics

ISBN: 9781108910118

1st Edition

Authors: Bernhard Von Stengel

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