This paper considers the problem of paging under the assumption that the se
quence of pages accessed is generated by a Markov chain. We use this model
to study the fault-rate of paging algorithms. We rst draw on the theory of
Markov decision processes to characterize the paging algorithm that achieve
s optimal fault-rate on any Markov chain. Next, we address the problem of d
evising a paging strategy with low fault-rate for a given Markov chain. We
show that a number of intuitive approaches fail. Our main result is a polyn
omial-time procedure that, on any Markov chain, will give a paging algorith
m with fault-rate at most a constant times optimal. Our techniques show als
o that some algorithms that do poorly in practice fail in the Markov settin
g, despite known (good) performance guarantees when the requests are genera
ted independently from a probability distribution.