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A Multiple Stopping Problem

Published online by Cambridge University Press:  27 July 2009

J. Preater
J. Preater
Affiliation:
Department of Mathematics, University of Keele, Keele, Staffordshire, ST5 5BG, United Kingdom
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Abstract

In the context of team recruitment, we discuss an optimal multiple stopping problem for an infinite independent and identically distributed sequence, with general reward function and constant observation cost. We establish the existence and nature of an optimal stopping rule. For the particular case where team quality is governed by the fitness of the weakest member, we show that the recruiter should be more discriminating with either a better, or a larger, group of appointees in hand.

Information

Type
Research Article
Information
Probability in the Engineering and Informational Sciences , Volume 8 , Issue 2 , April 1994 , pp. 169 - 177
Copyright
Copyright © Cambridge University Press 1994

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