On best choice problems having similar solutions

Zdzislaw Porosinski

Statistics & Probability Letters, 2002, vol. 56, issue 3, 321-327

Abstract: The purpose of the paper is to point out that best choice problems with different information structure may have similar solutions. A full-information best choice problem with a random number of objects having uniform distribution is considered. An optimal stopping rule, determined by decreasing sequence of levels, is found. Asymptotic behaviour of both an optimal stopping rule and a winning probability is examined in detail. Both the sequence of optimal levels determining optimal strategies and asymptotic winning probabilities are the same in the considered problem as well as in a best choice problem with partial information considered by Petruccelli (Ann. Statist. 8 (1980) 1171-1174).

Keywords: Best; choice; problem; Optimal; stopping (search for similar items in EconPapers)
Date: 2002
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Citations: View citations in EconPapers (1)

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