The Best-or-Worst and the Postdoc problems

L. Bayón (), P. Fortuny Ayuso (), J. M. Grau (), A. M. Oller-Marcén () and M. M. Ruiz ()
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L. Bayón: Universidad de Oviedo
P. Fortuny Ayuso: Universidad de Oviedo
J. M. Grau: Universidad de Oviedo
A. M. Oller-Marcén: Centro Universitario de la Defensa de Zaragoza
M. M. Ruiz: Universidad de Oviedo

Journal of Combinatorial Optimization, 2018, vol. 35, issue 3, No 3, 703-723

Abstract: Abstract We consider two variants of the secretary problem, the Best-or-Worst and the Postdoc problems, which are closely related. First, we prove that both variants, in their standard form with binary payoff 1 or 0, share the same optimal stopping rule. We also consider additional cost/perquisites depending on the number of interviewed candidates. In these situations the optimal strategies are very different. Finally, we also focus on the Best-or-Worst variant with different payments depending on whether the selected candidate is the best or the worst.

Keywords: Secretary problem; Best-or-worst problem; Postdoc problem; Combinatorial optimization; 60G40; 62L15 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (2)

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DOI: 10.1007/s10878-017-0203-4

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