The first financial model to use a Markov chain was from Prasad et al. in 1974. Another was the regime-switching model of James D. Hamilton (1989), in which a Markov chain is used to model switches between periods of high volatility and low volatility of asset returns.
A molecule is a particle containing two or more atoms. If it contains only one type of atom it is called an element.
ligand. (lÄ«gÉnd), n 1. a molecule, ion, or group bound to the central atom of a chemical compound, such as the oxygen molecule in hemoglobin, which is bound to the central iron atom. 2. an organic molecule attached to a specific site on a surface or to a tracer element.igand. [ligâ²Énd, lÄ«â²gÉnd]. Etymology: L, ligare, to bind. 1 a molecule, ion, or group bound to the central metal atom of a chemical compound, such as the oxygen molecule in oxyhemoglobin, which is bound to the central iron atom.