Abstract
An arbitrary number of competitors are presented with independent Poisson streams of offers consisting of independent and identically distributed random variables having the uniform distribution on [0, 1]. The players each wish to accept a single offer before a known time limit is reached and each aim to maximize the expected value of their offer. Rejected offers may not be recalled, but they are passed on to the other players according to a known transition matrix. This paper finds equilibrium points for two such games, and demonstrates a two-player game with an equilibrium point under which the player with the faster stream of offers has a lower expected reward than his opponent.
Publisher
Cambridge University Press (CUP)
Subject
Statistics, Probability and Uncertainty,General Mathematics,Statistics and Probability
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