Date of this Version
Journal of Applied Probability
Methods using gambling teams and martingales are developed and applied to find formulas for the expected value and the generating function of the waiting time until one observes an element of a finite collection of patterns in a sequence which is generated by a two-state first or higher order Markov chain.
This article has been published in a revised form in Journal of Applied Probability [10.1017/S0021900200001418]. This version is free to view and download for private research and study only. Not for re-distribution, re-sale or use in derivative works. © Cambridge University Press.
Gambling, teams, waiting times, patterns, success runs, failure runs, Markov chains, martingales, stopping times, generating functions
Glaz, J., Kulldorff, M., Pozdnyakov, V., & Steele, J. M. (2006). Gambling Teams and Waiting Times for Patterns in Two-State Markov Chains. Journal of Applied Probability, 43 (1), 127-140. http://dx.doi.org/10.1017/S0021900200001418
Date Posted: 27 November 2017
This document has been peer reviewed.