Advanced Search
MyIDEAS: Login to save this paper or follow this series

Approximate Results for a Generalized Secretary Problem

Contents:

Author Info

  • Chris Dietz

    (VU University Amsterdam)

  • Dinard van der Laan

    (VU University Amsterdam)

  • Ad Ridder

    (VU University Amsterdam)

Abstract

This discussion paper resulted in a publication in 'Probability in the Engineering and Informational Sciences' , 25(2), 157-69. A version of the classical secretary problem is studied, in which one is interested in selecting one of the b best out of a group of n differently ranked persons who are presented one by one in a random order. It is assumed that b is bigger than or equal to 1 is a preassigned number. It is known, already for a long time, that for the optimal policy one needs to compute b position thresholds, for instance via backwards induction. In this paper we study approximate policies, that use just a single or a double position threshold, albeit in conjunction with a level rank. We give exact and asymptotic (as n goes to infinity) results, which show that the double-level policy is an extremely accurate approximation.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://papers.tinbergen.nl/10092.pdf
Download Restriction: no

Bibliographic Info

Paper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 10-092/4.

as in new window
Length:
Date of creation: 10 Sep 2010
Date of revision:
Handle: RePEc:dgr:uvatin:20100092

Contact details of provider:
Web page: http://www.tinbergen.nl

Related research

Keywords: Secretary Problem; Dynamic Programming; Approximate Policies;

Find related papers by JEL classification:

This paper has been announced in the following NEP Reports:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:dgr:uvatin:20100092. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Antoine Maartens (+31 626 - 160 892)).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.