Sequential Search With Ordinal Ranks and Cardinal Values: An Infinite Discounted Secretary Problem

Simple item page
dc.contributor.advisorCramton, Peteren_US
dc.contributor.authorPalley, Asa Benjaminen_US
dc.contributor.departmentApplied Mathematics and Scientific Computationen_US
dc.contributor.publisherDigital Repository at the University of Marylanden_US
dc.contributor.publisherUniversity of Maryland (College Park, Md.)en_US
dc.date.accessioned2010-02-19T07:07:42Z
dc.date.available2010-02-19T07:07:42Z
dc.date.issued2009en_US
dc.description.abstractWe consider an extension of the classical secretary problem where a decision maker observes only the relative ranks of a sequence of up to N applicants, whose true values are i.i.d. U[0,1] random variables. Applicants arrive according to a homogeneous Poisson Process, and the decision maker seeks to maximize the expected time-discounted value of the applicant who she ultimately selects. This provides a straightforward and natural objective while retaining the structure of limited information based on relative ranks. We derive the optimal policy in the sequential search, and show that the solution converges as N goes to infinity. We compare these results with a closely related full information problem in order to quantify these informational limitations.en_US
dc.identifier.urihttp://hdl.handle.net/1903/9996
dc.subject.pqcontrolledApplied Mathematicsen_US
dc.subject.pqcontrolledEconomics, Theoryen_US
dc.subject.pquncontrolledDiscountingen_US
dc.subject.pquncontrolledDynamic Programmingen_US
dc.subject.pquncontrolledMarriage Problemen_US
dc.subject.pquncontrolledOptimal Stoppingen_US
dc.subject.pquncontrolledSecretary Problemen_US
dc.subject.pquncontrolledSequential Searchen_US
dc.titleSequential Search With Ordinal Ranks and Cardinal Values: An Infinite Discounted Secretary Problemen_US
dc.typeThesisen_US

Files

Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
Palley_umd_0117N_10971.pdf
Size:
980.59 KB
Format:
Adobe Portable Document Format
Download

Collections

UMD Theses and Dissertations
Computer Science Theses and Dissertations
Mathematics Theses and Dissertations