Article ID: | iaor19961352 |
Country: | Belgium |
Volume: | 36 |
Start Page Number: | 57 |
End Page Number: | 64 |
Publication Date: | Oct 1994 |
Journal: | Cahiers du Centre d'tudes de Recherche Oprationnelle |
Authors: | Bruss F. Thomas |
Keywords: | programming: dynamic |
This article provides minimax solutions of certain best choice problems in which applicants may not be appointed after some random (freeze) time. It is nice to see that the so-called Unified Approach for best choice problems can be extended to include this modification, and that this extension leads to a considerable simplification compared with the dynamic programming approach. Moreover, this extension includes the feature of a random number of applicants, and also allows for certain interdependencies between the intensity of the stream of applicants and the risk of freeze, which both add to the applicational appeal of such models.