The 1/e-strategy is sub-optimal for the problem of best choice under no information

F. Thomas Bruss and L.C.G. Rogers

Stochastic Processes and their Applications, 2022, vol. 150, issue C, 1059-1067

Abstract: This paper answers a long-standing open question concerning the 1/e-strategy for the problem of best choice. N candidates for a job arrive at times independently uniformly distributed in [0,1]. The interviewer knows how each candidate ranks relative to all others seen so far, and must immediately appoint or reject each candidate as they arrive. The aim is to choose the best overall. The 1/e strategy is to follow the rule: ‘Do nothing until time 1/e, then appoint the first candidate thereafter who is best so far (if any).’

Keywords: Optimal stopping; Secretary problem; Proportional increments; Pure birth process; Hamilton–Jacobi–Bellman equation (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1016/j.spa.2021.04.011

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