Optimal selection of the four best of a sequence

6533b7d6fe1ef96bd1266f1b

RESEARCH PRODUCT

Optimal selection of the four best of a sequence

subject

Mathematical optimization Sequence General Mathematics Value (economics)Stopping rule Optimal stopping rule Optimal stopping Management Science and Operations Research Mathematical economics Software Selection (genetic algorithm)Secretary problem Mathematics

description

We consider the situation in which the decision-maker is allowed to have four choices with purpose to choose exactly the four absolute best candidates fromN applicants. The optimal stopping rule and the maximum probability of making the right choice are given for largeN∈N, the maximum asymptotic value of the best choice being limN→∞P(win)≈0.12706.

year	journal	country	edition	language
1993-10-01	ZOR Zeitschrift f� Operations Research Methods and Models of Operations Research

https://doi.org/10.1007/bf01416612

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