When to stop -- a cardinal secretary search experiment (Q826903)
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scientific article; zbMATH DE number 7290612
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| English | When to stop -- a cardinal secretary search experiment |
scientific article; zbMATH DE number 7290612 |
Statements
When to stop -- a cardinal secretary search experiment (English)
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6 January 2021
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The authors consider the cardinal secretary search problem, which confronts the decision maker with more or less candidates who have identically and independently distributed values and appear successively in a random order without recall of earlier candidates. Specifically, they compare experimentally observed aspirations with optimal ones for different numbers of (remaining) candidates and methods of experimental choice elicitation: ``hot'' collects play data, ``warm'' asks for an acceptance threshold before confronting the next candidate, and ``cold'' for a complete profile of trial-specific acceptance thresholds. Their findings show that search differs from benchmark behavior.
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behavioral OR
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optimal stopping
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secretary problem
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sequential search mechanism
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0.8491595387458801
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0.7748827338218689
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0.7544378042221069
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0.75434410572052
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0.7464751601219177
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