Bayes' Model of the Best-Choice Problem with Disorder. (3rd August 2011)

• Record Type: Journal Article
• Authors: Mazalov, Vladimir; Ivashko, Evgeny
• Other Names: Hernandez Lerma Onesimo Academic Editor.
• Is Part Of: International journal of stochastic analysis. Volume 2012(2012)
• Publication Date: 2011-08-03
• Subjects: Stochastic analysis -- Periodicals; Stochastic analysis; Periodicals; 519.22
• DOI: 10.1155/2012/697458
• Languages: English
• ISSNs: 2090-3332

Abstract

Abstract : We consider the best-choice problem with disorder and imperfect observation. The decision-maker observes sequentially a known number of i.i.d random variables from a known distribution with the object of choosing the largest. At the random time the distribution law of observations is changed. The random variables cannot be perfectly observed. Each time a random variable is sampled the decision-maker is informed only whether it is greater than or less than some level specified by him. The decision-maker can choose at most one of the observation. The optimal rule is derived in the class of Bayes' strategies.