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- Title
NEW DEVELOPMENTS OF THE ODDS-THEOREM.
- Authors
DENDIEVEL, RÉMI
- Abstract
The odds-theorem and the corresponding solution algorithm (odds-algorithm) are tools to solve a wide range of optimal stopping problems. Its generality and tractability have aroused much attention. (Google for instance 'Bruss odds' to obtain a quick overview.) Many extensions and modifications of this result have appeared since its publication in 2000 (see Bruss (2000)). This article reviews the important new developments and applications in this field. The spectrum of application comprises fields as different as secretary problems, more general stopping problems, robotic maintenance problems, and compassionate use clinical trials, amongst others. This review also includes a new contribution of our own.
- Subjects
OPTIMAL control theory; ROBOTIC assembly; CLINICAL trials; SECRETARY problem (Probability theory); FAMOUS problems in probabilities; RECORDS
- Publication
Mathematical Scientist, 2013, Vol 38, Issue 2, p111
- ISSN
0312-3685
- Publication type
Article