Abstract:The Secretary problem is a classical sequential decision-making question that can be succinctly described as follows: a set of rank-ordered applicants are interviewed sequentially for a single position. Once an applicant is interviewed, an immediate and irrevocable decision is made if the person is to be offered the job or not and only applicants observed so far can be used in the decision process. The problem of interest is to identify the stopping rule that maximizes the probability of hiring the highest-ran… Show more
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