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Expected duration of the no-information minimum rank problem

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  • Demers, Simon

Abstract

A decision-maker who is looking to minimize the expected rank of a candidate chosen out of a large pool of sequential applicants should plan to interview slightly less than 50.65% of them on average in the no-information setting.

Suggested Citation

  • Demers, Simon, 2021. "Expected duration of the no-information minimum rank problem," Statistics & Probability Letters, Elsevier, vol. 168(C).
  • Handle: RePEc:eee:stapro:v:168:y:2021:i:c:s0167715220302534
    DOI: 10.1016/j.spl.2020.108950
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    References listed on IDEAS

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    1. Stein, William E. & Seale, Darryl A. & Rapoport, Amnon, 2003. "Analysis of heuristic solutions to the best choice problem," European Journal of Operational Research, Elsevier, vol. 151(1), pages 140-152, November.
    2. D. V. Lindley, 1961. "Dynamic Programming and Decision Theory," Journal of the Royal Statistical Society Series C, Royal Statistical Society, vol. 10(1), pages 39-51, March.
    3. Frank, Arthur Q. & Samuels, Stephen M., 1980. "On an optimal stopping problem of Gusein-Zade," Stochastic Processes and their Applications, Elsevier, vol. 10(3), pages 299-311, October.
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    Cited by:

    1. Hugh N. Entwistle & Christopher J. Lustri & Georgy Yu. Sofronov, 2024. "Asymptotic Duration for Optimal Multiple Stopping Problems," Mathematics, MDPI, vol. 12(5), pages 1-12, February.

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