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December, 1972 How to Win a War if You Must: Optimal Stopping Based on Success Runs
Norman Starr
Ann. Math. Statist. 43(6): 1884-1893 (December, 1972). DOI: 10.1214/aoms/1177690859

Abstract

A coin is tossed repeatedly at a fixed cost per toss. The payoff is the length of the terminal run of heads, less the cost of tossing. Properties of the dynamic programming solution are derived; the exact optimal policy and value of the game are obtained when the game has an infinite horizon, and the rate at which this solution is approached by the sequence of truncated strategies is analyzed numerically.

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Norman Starr. "How to Win a War if You Must: Optimal Stopping Based on Success Runs." Ann. Math. Statist. 43 (6) 1884 - 1893, December, 1972. https://doi.org/10.1214/aoms/1177690859

Information

Published: December, 1972
First available in Project Euclid: 27 April 2007

zbMATH: 0305.90070
MathSciNet: MR351000
Digital Object Identifier: 10.1214/aoms/1177690859

Rights: Copyright © 1972 Institute of Mathematical Statistics

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Vol.43 • No. 6 • December, 1972
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