In this paper we provide two representations for stochastic ion channel
kinetics, and compare the performance of exact simulation with a commonly used
numerical approximation strategy. The first representation we present is a
random time change representation, popularized by Thomas Kurtz, with the second
being analogous to a "Gillespie" representation. Exact stochastic algorithms
are provided for the different representations, which are preferable to either
(a) fixed time step or (b) piecewise constant propensity algorithms, which
still appear in the literature. As examples, we provide versions of the exact
algorithms for the Morris-Lecar conductance based model, and detail the error
induced, both in a weak and a strong sense, by the use of approximate
algorithms on this model. We include ready-to-use implementations of the random
time change algorithm in both XPP and Matlab. Finally, through the
consideration of parametric sensitivity analysis, we show how the
representations presented here are useful in the development of further
computational methods. The general representations and simulation strategies
provided here are known in other parts of the sciences, but less so in the
present setting.Comment: 39 pages, 6 figures, appendix with XPP and Matlab cod
