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On best choice problems having similar solutions

Author

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  • Porosinski, Zdzislaw

Abstract

The purpose of the paper is to point out that best choice problems with different information structure may have similar solutions. A full-information best choice problem with a random number of objects having uniform distribution is considered. An optimal stopping rule, determined by decreasing sequence of levels, is found. Asymptotic behaviour of both an optimal stopping rule and a winning probability is examined in detail. Both the sequence of optimal levels determining optimal strategies and asymptotic winning probabilities are the same in the considered problem as well as in a best choice problem with partial information considered by Petruccelli (Ann. Statist. 8 (1980) 1171-1174).

Suggested Citation

  • Porosinski, Zdzislaw, 2002. "On best choice problems having similar solutions," Statistics & Probability Letters, Elsevier, vol. 56(3), pages 321-327, February.
  • Handle: RePEc:eee:stapro:v:56:y:2002:i:3:p:321-327
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    Cited by:

    1. Gnedin, A.V.Alexander V., 2004. "Best choice from the planar Poisson process," Stochastic Processes and their Applications, Elsevier, vol. 111(2), pages 317-354, June.

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