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The 1/e-strategy is sub-optimal for the problem of best choice under no information

Author

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  • Bruss, F. Thomas
  • Rogers, L.C.G.

Abstract

This paper answers a long-standing open question concerning the 1/e-strategy for the problem of best choice. N candidates for a job arrive at times independently uniformly distributed in [0,1]. The interviewer knows how each candidate ranks relative to all others seen so far, and must immediately appoint or reject each candidate as they arrive. The aim is to choose the best overall. The 1/e strategy is to follow the rule: ‘Do nothing until time 1/e, then appoint the first candidate thereafter who is best so far (if any).’

Suggested Citation

  • Bruss, F. Thomas & Rogers, L.C.G., 2022. "The 1/e-strategy is sub-optimal for the problem of best choice under no information," Stochastic Processes and their Applications, Elsevier, vol. 150(C), pages 1059-1067.
    • Handle: RePEc:eee:spapps:v:150:y:2022:i:c:p:1059-1067
    DOI: 10.1016/j.spa.2021.04.011
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    References listed on IDEAS

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    1. T. J. Stewart, 1981. "The Secretary Problem with an Unknown Number of Options," Operations Research, INFORMS, vol. 29(1), pages 130-145, February.
    2. Bruss, F. T. & Rogers, L. C. G., 1991. "Pascal processes and their characterization," Stochastic Processes and their Applications, Elsevier, vol. 37(2), pages 331-338, April.
    3. Bruss, F. Thomas, 1988. "Invariant record processes and applications to best choice modelling," Stochastic Processes and their Applications, Elsevier, vol. 30(2), pages 303-316, December.
    Full references (including those not matched with items on IDEAS)

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