Hostname: page-component-7dd5485656-hw7sx Total loading time: 0 Render date: 2025-10-31T21:55:03.470Z Has data issue: false hasContentIssue false
  • English
  • Français

Optimal and adaptive stopping based on capture times

Published online by Cambridge University Press:  14 July 2016

Norman Starr
Norman Starr*
Affiliation:
The University of Michigan
Get access Rights & Permissions [Opens in a new window]

Abstract

Independent exponential capture times are assumed for each of N prey. The payoff is the number of prey caught less a linear time cost. The optimal stopping time and value are obtained. When N is known an adaptive statistical procedure is proposed for which the expected payoff differs from the value by at most one-half plus a term which tends to zero (of order N –α, a < 1) as N → ∞.

Keywords

OPTIMAL STOPPINGADAPTIVE STOPPINGDYNAMIC PROGRAMMINGEXPONENTIAL FAILUREMARTINGALESESTIMATING POPULATION SIZEASYMPTOTIC THEORY

Information

Type
Research Papers
Information
Journal of Applied Probability , Volume 11 , Issue 2 , June 1974 , pp. 294 - 301
Copyright
Copyright © Applied Probability Trust 1974 

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.)

Article purchase

Temporarily unavailable

References

[1] Chow, Y. S., Robbins, H. and Siegmund, D. (1971) Great Expectations: The Theory of Optimal Stopping. Houghton Mifflin, New York.Google Scholar
[2] Darling, D. A. and Robbins, H. (1967) Finding the size of a population. Ann. Math. Statist. 38, 1392–1398.CrossRefGoogle Scholar
[3] Jolley, L. B. W. (1961) Summation of Series. (Second revised edition) Dover Publications, New York.Google Scholar