Consider the Markov chain which at each transition either goes up 1 with probability p or down

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Consider the Markov chain which at each transition either goes up 1 with probability p or down 1 with probability q = 1 p. Argue that (q/p), n 1, is a martingale

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Stochastic Processes

ISBN: 9780471120629

2nd Edition

Authors: Sheldon M. Ross

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Question Posted: Sep 06, 2024 09:04 AM

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Consider the Markov chain which at each transition either goes up 1 with probability p or down

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Stochastic Processes

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