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Variable wager HI-LO: a stochastic dynamic programming analysis

Author

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  • J M Freeman

    (UMIST)

Abstract

Variants on the HI-LO gaming problem are analysed from a stochastic dynamic programming perspective. By way of illustration, the basic (Markovian) procedure is used to generate initial results for a contemporary British TV game contest. Related analysis enables players' round by round attitude to risk to be estimated non-subjectively.

Suggested Citation

  • J M Freeman, 2001. "Variable wager HI-LO: a stochastic dynamic programming analysis," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 52(3), pages 352-357, March.
    • Handle: RePEc:pal:jorsoc:v:52:y:2001:i:3:d:10.1057_palgrave.jors.2601087
    DOI: 10.1057/palgrave.jors.2601087
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    Cited by:

    1. J M Freeman, 2009. "Optimal policies for playing variable wager HI-LO," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 60(1), pages 79-83, January.
    2. Perea, Federico & Puerto, Justo, 2007. "Dynamic programming analysis of the TV game "Who wants to be a millionaire?"," European Journal of Operational Research, Elsevier, vol. 183(2), pages 805-811, December.

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