The Best-or-Worst and the Postdoc problems
Probability
2017-06-23 v1
Abstract
We consider two variants of the secretary problem, the\emph{ Best-or-Worst} and the \emph{Postdoc} problems, which are closely related. First, we prove that both variants, in their standard form with binary payoff 1 or 0, share the same optimal stopping rule. We also consider additional cost/perquisites depending on the number of interviewed candidates. In these situations the optimal strategies are very different. Finally, we also focus on the Best-or-Worst variant with different payments depending on whether the selected candidate is the best or the worst.
Keywords
Cite
@article{arxiv.1706.07185,
title = {The Best-or-Worst and the Postdoc problems},
author = {L. Bayon and P. Fortuny Ayuso and J. M. Grau and A. M. Oller-Marcen and M. M. Ruiz},
journal= {arXiv preprint arXiv:1706.07185},
year = {2017}
}