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When to stop — A cardinal secretary search experiment

Journal of Mathematical Psychology, ISSN: 0022-2496, Vol: 98, Page: 102425
2020
  • 3
    Citations
  • 0
    Usage
  • 5
    Captures
  • 0
    Mentions
  • 57
    Social Media
Metric Options:   Counts1 Year3 Year

Metrics Details

  • Citations
    3
  • Captures
    5
  • Social Media
    57
    • Shares, Likes & Comments
      57
      • Facebook
        57

Article Description

The cardinal secretary search problem confronts the decision maker with more or less candidates who have identically and independently distributed values and appear successively in a random order without recall of earlier candidates. Its benchmark solution implies monotonically decreasing sequences of optimal value aspirations (acceptance thresholds) for any number of remaining candidates. We compare experimentally observed aspirations with optimal ones for different numbers of (remaining) candidates and methods of experimental choice elicitation: “hot” collects play data, “warm” asks for an acceptance threshold before confronting the next candidate, and “cold” for a complete profile of trial-specific acceptance thresholds. The initially available number of candidates varies across elicitation methods to obtain more balanced data. We find that actual search differs from benchmark behavior, in average search length and success, but also in some puzzling qualitative aspects.

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