The best choice problem with random arrivals: how to beat the 1 / e-strategy

DOI10.1016/J.SPA.2021.12.008MaRDI QIDQ2074989zbMATH OpenOpenAlexFDO

Authors Alexander Gnedin

Publication date 11 February 2022

Published in Stochastic Processes and their Applications (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.spa.2021.12.008

zbMATH Keywords

\( 1 / e\)-strategybest choice problemdominanceminimax strategyoptimal stoppingrandom arrivals

Mathematics Subject Classification ID

Stopping times; optimal stopping problems; gambling theory (60G40) Probabilistic games; gambling (91A60)

Recommendations

• The 1/e-strategy is sub-optimal for the problem of best choice under no information
• A unified approach to a class of best choice problems with an unknown number of options
• A random arrival time best-choice problem with uniform prior on the number of arrivals
• scientific article; zbMATH DE number 1117672
• Strategies in the secretary problem

Cites work

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• A random arrival time best-choice problem with uniform prior on the number of arrivals
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• Embedding optimal selection problems in a Poisson process
• Guess the larger number
• scientific article; zbMATH DE number 3928135 (Why is no real title available?)
• scientific article; zbMATH DE number 51379 (Why is no real title available?)
• scientific article; zbMATH DE number 52077 (Why is no real title available?)
• scientific article; zbMATH DE number 1925805 (Why is no real title available?)
• scientific article; zbMATH DE number 3090557 (Why is no real title available?)
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Cited in

(7)

• Optimal choice and assignment of the best \(m\) of \(n\) randomly arriving items
• The 1/e-strategy is sub-optimal for the problem of best choice under no information
• Dynamic threshold strategy for universal best choice problem
• A random arrival time best-choice problem with uniform prior on the number of arrivals
• Choosing rarity: an exercise in stopping times
• Hiring strategies
• The last-success stopping problem with random observation times

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