On convergence of general truncation-augmentation schemes for approximating stationary distributions of Markov chains

Key Points

• Convergence of truncation-augmentation schemes enhances accuracy in approximating stationary distributions.
• The primary metric demonstrates effective approximation techniques in Markov chains, increasing reliability.
• Analysis of Markov chains with truncation and augmentation methods suggests improved outcomes across diverse scenarios.
• This study highlights the importance of refining approximation methods for better applicability in various stochastic processes.