this Markov Chain is so …. (sigh)

There is a limit on gamma, the correlation factor, so that the upper-bound of the subset-estimator COV is lower than the MCS COV. But is this limit useful? Since the actual COV is usually much lower than the upper-bound. Besides, theoretically gamma can be very large; which means the COV bounds are very large. However, empirically we found that gamma is usually < 10. Wondering what all these mean. Wondering whether all these are useful, meaningful, and not in vain? Of course they are not in vain, are they?

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