Simplified Exhaustive Search Approach for Estimating the Nonhomogeneous Transition Probabilities for Infrastructure Asset Management
Abstract
A simplified exhaustive search approach is proposed to estimate the nonhomogeneous transition probabilities for a particular infrastructure element. The yearly nonhomogeneous transition probabilities associated with discrete-time Markovian chains can be estimated for a given analysis period mainly using observed performance ratings. The proposed approach is applicable to Markov chains comprised of only two state transitions, namely remaining in...
Paper Details
Title
Simplified Exhaustive Search Approach for Estimating the Nonhomogeneous Transition Probabilities for Infrastructure Asset Management
Published Date
Mar 1, 2022
Volume
28
Issue
1
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