Markov chain in continuous time.

Describe using transition rates (see Stochastic process, Master equation). See Discrete-time Markov chain for many properties that go through to the continuous case

Gillespie's algorithm

To simulate CTMCs.

Examples

Junke-Cantor DNA evolution model. See junke_cantor_model.pdf

Lotka-Volterra equations. See more at Stochastic processes.