In this paper, we develop a random-matrix formalism that enables analysis o
f a variety of polarization-mode dispersion (PMD) related problems. In part
icular, we address the problems of higher order error in a discrete fiber m
odel and limit of multistaged PMD compensation schemes. Our solution to the
first problem leads to a simple condition for the validity of the model, w
hich is often overlooked in PMD simulations. For the second issue, we have
found an asymptotic bound on the limit of a multistaged PMD compensation sc
heme. The theory is confirmed by numerical simulations, and future work is
suggested.