IDEAS home Printed from https://ideas.repec.org/p/ags/quedwp/273595.html
   My bibliography  Save this paper

How to take an exam if you must: Decision under Deadline

Author

Listed:
  • Huynh, Hsueh-Ling
  • Majumdar, Sumon

Abstract

This paper uses the example of an exam to model multi-dimensional search under a deadline. When the dimension is two, an order-invariance property allows simple characterization of the optimal search policy. Behavior is shown to be highly sensitive to changes in the deadline, and a wide variety of policies can be rationalized (as being optimal) as the length of the deadline increases. This is contrasted with behavior under the traditional case of geometric discounting, in which a similar sensitivity to changes in the discount factor cannot hold. For dimensions higher than two, the invariance principle does not hold; this increases complexity of the problem of finding the optimal search policy.

Suggested Citation

  • Huynh, Hsueh-Ling & Majumdar, Sumon, 2006. "How to take an exam if you must: Decision under Deadline," Queen's Economics Department Working Papers 273595, Queen's University - Department of Economics.
    • Handle: RePEc:ags:quedwp:273595
    DOI: 10.22004/ag.econ.273595
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/273595/files/qed_wp_1119.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.273595?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:quedwp:273595. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/qedquca.html .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.