A unified approach to a class of optimal selection problems with an unknown number of options (Q1075691): Difference between revisions
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Revision as of 19:00, 19 March 2024
scientific article
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | A unified approach to a class of optimal selection problems with an unknown number of options |
scientific article |
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A unified approach to a class of optimal selection problems with an unknown number of options (English)
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1987
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In the so-called secretary problem, if an unknown number, N, of options arrive at i.i.d. times with a known continuous distribution, then ignorance of how many options there are becomes almost irrelevant: The optimal rule for infinitely many options is shown to be minimax with respect to all possible distributions of N, nearly optimal whenever N is likely to be large, and formal Bayes against a non-informative prior. These results hold whatever the loss function.
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best choice problem
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minimax strategy
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Bayes strategy
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non-informative prior
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secretary problem
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infinitely many options
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loss function
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