Optimal Stopping with Multi-Dimensional Comparative Loss Aversion

Linda Cai, Joshua Gardner and S. Matthew Weinberg

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Abstract: Despite having the same basic prophet inequality setup and model of loss aversion, conclusions in our multi-dimensional model differs considerably from the one-dimensional model of Kleinberg et al. For example, Kleinberg et al. gives a tight closed-form on the competitive ratio that an online decision-maker can achieve as a function of $\lambda$, for any $\lambda \geq 0$. In our multi-dimensional model, there is a sharp phase transition: if $k$ denotes the number of dimensions, then when $\lambda \cdot (k-1) \geq 1$, no non-trivial competitive ratio is possible. On the other hand, when $\lambda \cdot (k-1)

Date: 2023-09, Revised 2023-09
New Economics Papers: this item is included in nep-inv and nep-upt
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