
Accession Number : AD0664144
Title : A CLASS OF SEQUENTIAL SAMPLING PROBLEMS ARISING IN CERTAIN LEARNING SITUATIONS.
Descriptive Note : Technical rept.,
Corporate Author : MICHIGAN UNIV ANN ARBOR DEPT OF COMMUNICATION SCIENCES
Personal Author(s) : Bainbridge,Edwin
Report Date : DEC 1967
Pagination or Media Count : 22
Abstract : A strategist is to decide on each of n turns whether to take a sample from a certain fixed random variable, and receive the outcome as payoff, or to receive as payoff the largest value of the random variable he has discovered so far. The expected total payoff for the n turns is to be maximized. It is shown that the following decision procedure is the solution. x prime is the current record value, and F(x) is the distribution function of the random variable. A strategy for an indefinite number of turns is described, and for suitable distributions it is shown that the limit of the ratio of the payoff accumulated by this strategy in n turns to the payoff accumulated by the optimal strategy for n turns in one, with probability one. (Author)
Descriptors : (*DECISION THEORY, OPTIMIZATION), (*LEARNING, DECISION MAKING), RANDOM VARIABLES, GAME THEORY, DISTRIBUTION FUNCTIONS, SAMPLING, PROBABILITY
Subject Categories : Psychology
Operations Research
Distribution Statement : APPROVED FOR PUBLIC RELEASE