In a Markov chain, what is the name for a matrix where every column sums to 1 and all entries are non-negative?
Show answer
Stochastic matrix
Stochastic matrices (also called transition matrices) describe the probabilities of moving from one state to another. A key property is that they always have at least one eigenvalue equal to 1.
Also asked as:
- What is the term for a matrix with non-negative entries where the sum of each column is exactly 1?