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Some asymptotic results for optimal stopping based on capture times

Published online by Cambridge University Press:  14 July 2016

Robert L. Wardrop
Robert L. Wardrop*
Affiliation:
University of Wisconsin-Madison
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Abstract

A region contains n prey labeled 1, 2, …, n. Prey i is captured at the random time Zi; where Z1, Z2, …, Zn are i.i.d. with distribution function F. The statistician must decide when to stop searching, with the goal of maximizing the number of prey captured minus a linear time cost, c. The optimal strategy and its expected payoff are studied asymptotically as n, c →∞, for F a beta or Weibull distribution.

Keywords

OPTIMAL STOPPINGBROWNIAN MOTIONWEAK CONVERGENCEUNIFORM INTEGRABILITY
Type
Research Papers
Information
Journal of Applied Probability , Volume 13 , Issue 4 , December 1976 , pp. 741 - 750
Copyright
Copyright © Applied Probability Trust 1976 

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References

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