Odds-theorem and monotonicity

DOI10.14708/MA.V47I1.6481MaRDI QIDQ5135657zbMATH OpenOpenAlexWikidataFDO

Authors F. Thomas Bruss

Publication date 23 November 2020

Published in Mathematica Applicanda (Search for Journal in Brave)

Full work available at URL https://arxiv.org/abs/1905.05611

zbMATH Keywords

clinical trialgamesgroup interviewsmultiple stoppingodds-algorithmplug-in odds-algorithmprophet inequalitysecretary problem

Mathematics Subject Classification ID

Stopping times; optimal stopping problems; gambling theory (60G40)

Abstract: Given a finite sequence of events and a well-defined notion of events being interesting, the Odds-theorem (Bruss (2000)) gives an online strategy to stop on the last interesting event. It is optimal for independent events. Here we study questions in how far optimal win probabilities mirror monotonicity properties of the underlying sequence of probabilities of events. We make these questions precise, motivate them, and then give complete answers. This note, concentrating on the original Odds-theorem, is elementary, and the answers are hoped to be of interest. We include several applications.

Recommendations

• The odds algorithm based on sequential updating and its performance
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Cites work

• A game version of the Cowan-Zabczyk-Bruss' problem
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Cited in

(4)

• A note on bounds for the odds theorem of optimal stopping.
• A unified approach for solving sequential selection problems
• The odds algorithm based on sequential updating and its performance
• A note on last-success-problem

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