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Sequential Selection of a Quality Group.
by
Ester Samuel-Cahn
The Hebrew University of Jerusalem
Coauthors: Abba M. Krieger, University of Pennsylvania and
Moshe Pollak, The Hebrew University of Jerusalem
In many situations, the decision maker observes items in sequence and needs to determine whether or not to retain a particular item immediately after it is observed. Any decision rule creates a set of items that are selected. We consider situations where the items are i.i.d., under two scenarios: 1. The available information is only the rank of the present observation, relative to its predecessors. 2. The values of the random variables themselves are sequentially observable. Certain "natural" selection rules are investigated. Theoretical results will be presented, pertaining to the evolution of the number of items selected, measures of their quality and the time it would take to amass a group of a given size.
Date received: March 13, 2007
Copyright © 2007 by the author(s). The author(s) of this document and the organizers of the conference have granted their consent to include this abstract in Atlas Conferences Inc. Document # cauc-42.