Optimal Interval Division

Jianrong Tian

The Economic Journal, 2022, vol. 132, issue 641, 424-435

Abstract: This paper provides a simple unified analysis of optimal interval division problems. My primitive is a cell function that assigns a value to each subinterval (cell). Submodular cell functions conveniently imply the property of decreasing marginal returns. Also, for coarse decision problems, optimal cutoffs commonly increase as prior belief shifts upward. Its implications on language and efficient menus are discussed.

Date: 2022
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