{"title":"Decoherence for Markov chains","authors":"F. Fidaleo, E. Vincenzi","doi":"10.1080/17442508.2022.2124871","DOIUrl":null,"url":null,"abstract":"It is known that the subspace generated by the eigenvectors pertaining to the peripheral spectrum of any stochastic matrix is canonically equipped with a structure of a (finite-dimensional abelian) -algebra under a canonical new product introduced by E.G. Effros and M.-D. Choi. We prove that the restriction of the action of such a stochastic matrix to this subspace is indeed a -automorphism. The following new decoherence result is then established: any Markov chain encodes a conservative -dynamical system, after isolation of the persistent part from the transient one. This result gives a partial answer to the general and currently unsolved decoherence problem for a relevant class of systems.","PeriodicalId":50447,"journal":{"name":"Finance and Stochastics","volume":"38 1","pages":"867 - 877"},"PeriodicalIF":1.1000,"publicationDate":"2022-02-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Finance and Stochastics","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1080/17442508.2022.2124871","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
引用次数: 1
Abstract
It is known that the subspace generated by the eigenvectors pertaining to the peripheral spectrum of any stochastic matrix is canonically equipped with a structure of a (finite-dimensional abelian) -algebra under a canonical new product introduced by E.G. Effros and M.-D. Choi. We prove that the restriction of the action of such a stochastic matrix to this subspace is indeed a -automorphism. The following new decoherence result is then established: any Markov chain encodes a conservative -dynamical system, after isolation of the persistent part from the transient one. This result gives a partial answer to the general and currently unsolved decoherence problem for a relevant class of systems.
期刊介绍:
The purpose of Finance and Stochastics is to provide a high standard publication forum for research
- in all areas of finance based on stochastic methods
- on specific topics in mathematics (in particular probability theory, statistics and stochastic analysis) motivated by the analysis of problems in finance.
Finance and Stochastics encompasses - but is not limited to - the following fields:
- theory and analysis of financial markets
- continuous time finance
- derivatives research
- insurance in relation to finance
- portfolio selection
- credit and market risks
- term structure models
- statistical and empirical financial studies based on advanced stochastic methods
- numerical and stochastic solution techniques for problems in finance
- intertemporal economics, uncertainty and information in relation to finance.