On the Best Order of Observation in Optimal Stopping Problems

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Abstract

For optimal stopping problems in which the player is allowed to choose the order of the random variables as well as the stopping rule, a notion of order equivalence is introduced. It is shown that different (non-degenerate) distributions cannot be order-equivalent. This result unifies and generalizes two theorems of a similar nature recently obtained by Hill and Hordijk (1985).
Original languageEnglish
Pages (from-to)773-778
Number of pages6
JournalJournal of Applied Probability
Volume24
Issue number3
StatePublished - 1987

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