Hostname: page-component-cd9895bd7-jn8rn Total loading time: 0 Render date: 2024-12-29T06:12:24.792Z Has data issue: false hasContentIssue false
  • English
  • Français

A persistency problem connected with a point process

Published online by Cambridge University Press:  14 July 2016

G. Elfving
G. Elfving*
Affiliation:
University of Helsinki
Get access Rights & Permissions [Opens in a new window]

Extract

Imagine a man owning a commodity, e.g., a house, which is for sale. Offers at varying amounts are coming in every now and then. The longer he postpones selling the more he loses because of deterioration, interest losses, or the like. At each offer he must decide whether to accept it or wait for a better one. (A more picturesque example would be that of a girl scrutinizing successive suitors.)

Type
Research Papers
Information
Journal of Applied Probability , Volume 4 , Issue 1 , November 1967 , pp. 77 - 89
Copyright
Copyright © Applied Probability Trust 

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

[1] Breiman, L. (1964) Stopping rule problems. Applied Combinatorial Mathematics (ed. Beckenbach, E. F.) 284–319. Wiley, New York.Google Scholar
[2] Chow, Y. S. and Robbins, H. (1961) A martingale system theorem and applications. Proc. Fourth Berkeley Symposium on Mathematical Statistics and Probability 1, 93–104. U. of California Press, Berkeley.Google Scholar
[3] De Groot, M. H. (1966) Some Problems of Optimal Stopping. Carnegie Institute of Technology.Google Scholar
[4] Mccall, J. J. (1965) The economics of information and optimal stopping rules. J. Business 38, 300–317.Google Scholar
[5] Macqueen, J. and Miller, R. G. Jr. (1960) Optimal persistence policies. Operat. Res. 8, 362–380.Google Scholar
[6] Yahav, J.A. (1966) On optimal stopping. Ann. Math. Statist. 37, 30–35.Google Scholar