Abstract
In this article we consider a stochastic game in which each player draws one or two random numbers between 0 and 1. Players can decide to stop after the first draw or to continue for a second draw. The decision is made without knowing the other players’ numbers or whether the other players continue for a second draw. The object of the game is to have the highest total score without going over 1. In the article, we will characterize the optimal stopping rule for each player.
Publisher
Cambridge University Press (CUP)
Subject
Industrial and Manufacturing Engineering,Management Science and Operations Research,Statistics, Probability and Uncertainty,Statistics and Probability
Reference2 articles.
1. Understanding Probability
2. Optimal stopping in “The Showcase Showdown,”;Coe;The American Statistician,1995
Cited by
4 articles.
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