A unified approach for solving sequential selection problems
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Abstract: In this paper we develop a unified approach for solving a wide class of sequential selection problems. This class includes, but is not limited to, selection problems with no-information, rank-dependent rewards, and considers both fixed as well as random problem horizons. The proposed framework is based on a reduction of the original selection problem to one of optimal stopping for a sequence of judiciously constructed independent random variables. We demonstrate that our approach allows exact and efficient computation of optimal policies and various performance metrics thereof for a variety of sequential selection problems, several of which have not been solved to date.
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Cited in
(8)- A nonparametric predictive approach to sequential acceptance problems
- A rank-based approach to the sequential selection and assignment problem
- An implicit enumeration scheme for the batch selection problem
- Average number of candidates surveyed by the headhunter in the recruitment
- Odds-theorem and monotonicity
- Mathematical intuition, deep learning, and Robbins' problem
- Hiring strategies
- Expected duration of the no-information minimum rank problem
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