Sequential design in an urn model

Sequential design in an urn model

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Article ID: iaor19921987
Country: Germany
Volume: 22
Start Page Number: 929
End Page Number: 936
Publication Date: Jun 1991
Journal: Optimization
Authors:
Abstract:

Finitely many urns are filled with balls each having one of the labels 1,...,N is known proportions. Balls can be drawn with replacement from any urn at the cost of c>0 monetary units per drawing. Let Xk be the number of labels that show up in the first k drawings. The paper solves the problem to find a selection rule for the urns to be used and a stopping rule such that E(XÅτ-cτ) is maximized. A second problem of this kind is also treated.

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