Search results for "Secretary problem"
showing 4 items of 4 documents
Optimal selection of the four best of a sequence
1993
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.
A Decision Model for the Multiple Criteria Group Secretary Problem: Theoretical Considerations
1996
A decision model is developed for solving the discrete multiple criteria group secretary problem. The model extends the single decision-maker progressive algorithm by Korhonen, Moskowitz and Wallenius to group contexts. As the original progressive algorithm, it relaxes the usual assumption of a fixed set of available decision alternatives and complete knowledge of a decision-maker's preference structure (value function). The decision-makers are requested to settle on a compromise, if possible. The model then proceeds with determining the likelihood of finding possibly/surely better settlements (compromises). Linear value functions, linear prospect theory-type value functions, and quasiconca…
Optimal selection of thek best of a sequence withk stops
1997
We first consider the situation in which the decision-maker is allowed to have five choices with purpose to choose exactly the five absolute best candidates fromN applicants. The optimal stopping rule and the maximum probability of making the right five-choice are given for largeN eN, the maximum asymptotic value of the probability of the best choice being limN→∝P (win) ≈ 0.104305. Then, we study the general problem of selecting thek best of a sequence withk stops, constructing first a rough solution for this problem. Using this suboptimal solution, we find an approximation for the optimal probability valuesPk of the form $$P_k \approx \frac{1}{{(e - 1)k + 1}}$$ for any k eN.
Depression and Sequential Decision-Making Revisited
2019
Background: The effect of depression on decision-making is an important but still an unsettled issue. Although most studies have reported that clinically depressed participants show worse performance, there are also studies that have shown no or even positive effects. Specifically, von Helversen et al. (2011) were able to document a positive effect of depression on task performance in a sequential decision-making task called the secretary problem (SP). Here, we (1) aimed to replicate this study in an extended version using more trials and (2) modified it by including an additional condition in which negative feedback was given. Method: Eighty-two participants took part. They were split into…