Markov jump process
= Markov jump process
{c}
A Markov jump process is a nonexplosive, piecewise-constant continuous-time Markov process. Transition rates $q(x,y)$ give exponential holding time of rate $\sum_{y\ne x}q(x,y)$ and next-state probabilities proportional to these rates. Being Markov relative to a specified filtration requires the conditional future law given that filtration to depend only on the present state.
// Target: probability-and-statistics.bigb