On best choice problems having similar solutions

✍ Scribed by Zdzisław Porosiński

• Book ID: 104301813
• Publisher: Elsevier Science
• Year: 2002
• Tongue: English
• Weight: 103 KB
• Volume: 56
• Category: Article
• ISSN: 0167-7152
• DOI: 10.1016/s0167-7152(01)00201-2

✦ Synopsis

The purpose of the paper is to point out that best choice problems with di erent 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).