Aims to give to the reader the tools necessary to apply semi-Markov processes in real-life
problems. The book is self-contained and, starting from a low level of probability concepts …

Manpower planning is an essential methodology for business and industry; it allows
managers to make more efficient use of human resources. However, human behaviour is …

This book aims to give a complete and self-contained presentation of semi-Markov models
with finitely many states, in view of solving real life problems of risk management in three …

Manpower planning is very useful for human resource management in large organizations.
Most manpower models are concerned with the prediction of the future behaviour of the staff …

This chapter descibes some new reliability models and measures for multistate systems.
Equivalent classes and lower/upper boundary points are used for deriving the structure …

We model the evolution of the credit migration of a corporate bond as an inhomogeneous
semi-Markov chain. The valuation of a defaultable bond is done with the use of the forward …

Discrete time Markov models are used in a wide variety of social sciences. However, these
models possess the memoryless property, which makes them less suitable for certain …

We explore the rating system used by credit agencies with a focus on problems that justify
the use of fuzzy set theory. We prove that a fuzzy market is viable if and only if an equivalent …

Abstract Strategic Workforce Planning is a company process providing best in class,
economically sound, workforce management policies and goals. Despite the abundance of …

For a G-inhomogeneous semi-Markov chain and G-inhomogeneous Markov renewal
processes, we study the change from real probability measure into a forward probability …