Article contents
Generalizing the secretary problem
Published online by Cambridge University Press: 01 July 2016
Abstract
The secretary problem refers to a certain class of optimal stopping problems based on relative ranks. To allow a more realistic formulation of the problem, this paper considers an arbitrary loss function. A finite and an infinite problem are defined and the optimal solutions are obtained. The solution for the infinite problem is given by a differential equation while the finite problem is given by a difference equation. Under general conditions, the finite problem tends to the infinite problem. An example involving the secretary problem with interview cost is considered and illustrates the usefulness of the present paper.
- Type
- Research Article
- Information
- Copyright
- Copyright © Applied Probability Trust 1979
Footnotes
Parts of this paper are taken from the author's doctoral thesis, written under the direction of Dr S. M. Samuels.
References
- 10
- Cited by