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• W233658805 abstract "This chapter discusses a variety of finite-stage sequential-decision models, illustrating the wide range of applications of stochastic dynamic programming. The chapter discusses a situation where an individual is presented with n offers in sequential order. After looking at an offer, the individual must decide whether to accept it or to reject it. Once rejected, an offer is lost. If it is supposed that the only information the individual has at any time is the relative rank of the present offer compared with previous ones, the objective is to maximize the probability of selecting the best offer when all n ! orderings of the offers are assumed to be equally likely. In some problems, a policy consists of a sequence of decisions that is fixed at time zero. In such problems, a valuable technique is to consider an arbitrary sequence and then to see what happens when two adjacent decisions are interchanged. The chapter illustrates the interchange argument in sequencing with examples." @default.
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• W233658805 date "1983-01-01" @default.
• W233658805 modified "2023-09-25" @default.
• W233658805 title "Finite-Stage Models" @default.
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• W233658805 doi "https://doi.org/10.1016/b978-0-12-598420-1.50005-2" @default.
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