[fruktmix]

Markov process is a stochastic model describing a sequence of possible events in which the probability of each event depends only on the state attained in the previous event.

[alucab]

That's a markov chain of the 1st order.

This is higher order Markov chain

[Robin_Message]

I think Markov chains have transition probabilities, which this model is lacking. But it's the same idea, just with uniform transition probabilitis.