VERSATILE MARKOVIAN POINT PROCESS

A versatile class of point processes on the real line, which are closely related to finite-state Markov processes, is introduced. Many relevant probability distributions, moment and correlation formulas are given in forms which are computationally tractable. Several point processes, such as renewal processes of phase type, Markov-modulated Poisson processes and certain semi-Markov point processes appear as particular cases. The treatment of a substantial number of existing probability models can be generalized in a systematic manner to arrival processes of the type discussed. Several qualitative features of point processes can be modeled in a way which remains computationally tractable.