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authors consider optimal single and multiple stopping problems for a class of correlated random walks \\(\\{S_n\\}_{n\\in\\mathbb{Z}^+}\\) with \\(S_0=0\\) and \\(S_n=\\sum^n_{i=1}X_i\\), \\(n\\geq 1\\), where \\(X_n\\), \\(n\\geq 1\\), are \\(\\{-1,1\\}\\)-valued random variables such that \\(P(X_n=1)=1/2\\) and satisfy NEWLINE\\[NEWLINE\\begin{aligned} g^+(j) & = P(X_{n+j+1}=1\\mid X_{n+j}=1,\\dots,X_{n+1}=1,\\;X_n=-1)\\\\ & = P(X_{n+j+1}=1\\mid X_{n+j}=1,\\dots,X_{n+1}=1,\\;X_n=-1,\\;X_{n-1}=\\varepsilon_{n-1},\\dots,X_1=\\varepsilon_1)\\end{aligned}NEWLINE\\]NEWLINE and NEWLINE\\[NEWLINE\\begin{aligned} g^-(j) & =P(X_{n+j+1}=-1\\mid X_{n+j}=-1,\\dots,X_{n+1}=-1,\\;X_n=1)\\\\ & = P(X_{n+j+1}=-1\\mid X_{n+j}=-1,\\dots,X_{n+1}=-1,\\;X_n=1,\\;X_{n-1}=\\varepsilon_{n-1},\\dots,X_1=\\varepsilon_1)\\end{aligned}NEWLINE\\]NEWLINE for \\(n\\geq 0\\), \\(j\\geq 1\\) and \\(\\varepsilon_1,\\dots,\\varepsilon_{n-1}\\in \\{-1,1\\}\\). It is assumed that the sequences \\(\\{(g^+(n)\\}\\) and \\(\\{g^-(n)\\}\\) are nondecreasing and \\(g^+(1)\\), \\(g^-(1)\\geq 1/2\\). Given a finite time horizon \\(N\\), the objective of a single stopping problem is to find an optimal stopping time \\(\\tau^*\\) such that \\(ES_{\\tau^*} =\\sup_{\\tau\\in{\\mathcal T}^N}S_\\tau\\) where \\({\\mathcal T}^N\\) is the set of stopping times \\(\\tau\\) such that \\(1 \\leq\\tau \\leq N\\) almost surely. They establish the general form for the optimal stopping time. For the special case of \\(g^+(n) = q\\geq 1/2\\), a simple optimal stopping time is given. For a multiple stopping problem, the player stops at times \\(0\\leq \\tau_1 <\\cdots< \\tau_2 < \\tau_{2m}\\leq N\\) and the total return is given by \\(\\sum^m_{j=1}(S_{\\tau_{2j}}-S_{\\tau_{2j-1}})-2mc\\). For the case without transaction costs, that is, \\(c = 0\\), they prove that the optimal stopping time has a particularly nice form. For the case with transaction costs some reasonably straightforward stopping times are obtained under various assumptions for \\(g^+(n)\\) or \\(g^-(n)\\). Finally numerical examples are presented comparing optimal stopping times to simpler buy and hold strategies.","type":"string"},"datatype":"string"},"type":"statement","id":"Q2749134$FFA3B228-DEAE-4DCF-B67C-57C401BABD00","rank":"normal"}],"P1447":[{"mainsnak":{"snaktype":"value","property":"P1447","hash":"544c50f1a55384cc907f306dfffad302e385e2ac","datavalue":{"value":{"entity-type":"item","numeric-id":588539,"id":"Q588539"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","id":"Q2749134$EF0F2C33-F63A-47C5-BA99-940A6CD69E62","rank":"normal"}],"P1643":[{"mainsnak":{"snaktype":"value","property":"P1643","hash":"4e263fbc78b8a1dfd9af7efc0c69ce47e8d46c62","datavalue":{"value":{"entity-type":"item","numeric-id":5459906,"id":"Q5459906"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","qualifiers":{"P1659":[{"snaktype":"value","property":"P1659","hash":"2e66ca2930036d105c2e0418125e800b7873b63c","datavalue":{"value":{"amount":"+0.8779167532920837","unit":"1"},"type":"quantity"},"datatype":"quantity"}],"P1660":[{"snaktype":"value","property":"P1660","hash":"a327a09ea0305e98d5cf33bd4036320e19f2aed0","datavalue":{"value":{"entity-type":"item","numeric-id":6821328,"id":"Q6821328"},"type":"wikibase-entityid"},"datatype":"wikibase-item"}]},"qualifiers-order":["P1659","P1660"],"id":"Q2749134$25573796-1A78-45D1-BEA4-CDA94C943EEA","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P1643","hash":"31075e89ad8568147c52843653d440af4864b3a6","datavalue":{"value":{"entity-type":"item","numeric-id":4819472,"id":"Q4819472"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","qualifiers":{"P1659":[{"snaktype":"value","property":"P1659","hash":"f279293bade780cc2c378d88bb9cb6926bfb821a","datavalue":{"value":{"amount":"+0.8704681992530823","unit":"1"},"type":"quantity"},"datatype":"quantity"}],"P1660":[{"snaktype":"value","property":"P1660","hash":"a327a09ea0305e98d5cf33bd4036320e19f2aed0","datavalue":{"value":{"entity-type":"item","numeric-id":6821328,"id":"Q6821328"},"type":"wikibase-entityid"},"datatype":"wikibase-item"}]},"qualifiers-order":["P1659","P1660"],"id":"Q2749134$0E11CA46-7EF0-4F78-8EC9-BB4027C1C1FD","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P1643","hash":"11ef6bca4e38730dce9328f67b985f57cd47f6a3","datavalue":{"value":{"entity-type":"item","numeric-id":3068091,"id":"Q3068091"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","qualifiers":{"P1659":[{"snaktype":"value","property":"P1659","hash":"5ad963c2609490563a447e864470795500f1155b","datavalue":{"value":{"amount":"+0.8249179720878601","unit":"1"},"type":"quantity"},"datatype":"quantity"}],"P1660":[{"snaktype":"value","property":"P1660","hash":"a327a09ea0305e98d5cf33bd4036320e19f2aed0","datavalue":{"value":{"entity-type":"item","numeric-id":6821328,"id":"Q6821328"},"type":"wikibase-entityid"},"datatype":"wikibase-item"}]},"qualifiers-order":["P1659","P1660"],"id":"Q2749134$E7A8F6CC-0A6B-4A8A-A47B-C9B6FA764B31","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P1643","hash":"f00be82436f41bb36c2f727311f3f8125527110b","datavalue":{"value":{"entity-type":"item","numeric-id":4660525,"id":"Q4660525"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","qualifiers":{"P1659":[{"snaktype":"value","property":"P1659","hash":"86e27d8d7cef99a04f47955ce15c9609b7bd69e7","datavalue":{"value":{"amount":"+0.8149091601371765","unit":"1"},"type":"quantity"},"datatype":"quantity"}],"P1660":[{"snaktype":"value","property":"P1660","hash":"a327a09ea0305e98d5cf33bd4036320e19f2aed0","datavalue":{"value":{"entity-type":"item","numeric-id":6821328,"id":"Q6821328"},"type":"wikibase-entityid"},"datatype":"wikibase-item"}]},"qualifiers-order":["P1659","P1660"],"id":"Q2749134$24699208-D6F6-406E-82B2-7007231A7A61","rank":"normal"},{"mainsnak":{"snaktype":"value","property":"P1643","hash":"e4b67af9c95b234193d2673c43025ce0dc33f48f","datavalue":{"value":{"entity-type":"item","numeric-id":4791443,"id":"Q4791443"},"type":"wikibase-entityid"},"datatype":"wikibase-item"},"type":"statement","qualifiers":{"P1659":[{"snaktype":"value","property":"P1659","hash":"d0a7e4439725310c618a98097ab4604c76ebb2bf","datavalue":{"value":{"amount":"+0.8025113940238953","unit":"1"},"type":"quantity"},"datatype":"quantity"}],"P1660":[{"snaktype":"value","property":"P1660","hash":"a327a09ea0305e98d5cf33bd4036320e19f2aed0","datavalue":{"value":{"entity-type":"item","numeric-id":6821328,"id":"Q6821328"},"type":"wikibase-entityid"},"datatype":"wikibase-item"}]},"qualifiers-order":["P1659","P1660"],"id":"Q2749134$AA4A0110-BF22-4DF5-B4ED-B2383CD07556","rank":"normal"}]},"sitelinks":{"mardi":{"site":"mardi","title":"Optimal stopping rules for directionally reinforced processes","badges":[]}}}}}