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Multiple Stopping Problems : Unilateral and Multilateral Approaches

By: (Author) Georgy Sofronov , (Author) Krzysztof Szajowski

Manufacture on Demand

Ksh 14,050.00

Format: Hardback or Cased Book

ISBN-10: 1032525436

ISBN-13: 9781032525433

Publisher: Taylor & Francis Ltd

Imprint: Chapman & Hall/CRC

Country of Manufacture: GB

Country of Publication: GB

Publication Date: Dec 24th, 2024

Print length: 354 Pages

Weight: 453 grams

Product Classification: Probability & statistics
Stochastics

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This book presents the theory of rational decisions involving the selection of stopping times in observed discrete-time stochastic processes, both by single and multiple decision-makers. Readers will become acquainted with the models, strategies, and applications of these models.

This book presents the theory of rational decisions involving the selection of stopping times in observed discrete-time stochastic processes, both by single and multiple decision-makers. Readers will become acquainted with the models, strategies, and applications of these models.

It begins with an examination of selected models framed as stochastic optimization challenges, emphasizing the critical role of optimal stopping times in sequential statistical procedures. The authors go on to explore models featuring multiple stopping and shares on leading applications, particularly focusing on change point detection, selection problems, and the nuances of behavioral ecology. In the following chapters, an array of perspectives on model strategies is presented, elucidating their interpretation and the methodologies underpinning their genesis. Essential notations and definitions are introduced, examining general theorems about solution existence and structure, with an intricate analysis of optimal stopping predicaments and addressing crucial multilateral models. The reader is presented with the practical application of models based on multiple stopping within stochastic processes. The coverage includes a diverse array of domains, including sequential statistics, finance, economics, and the broader generalization of the best-choice problem. Additionally, it delves into numerical and asymptotic solutions, offering a comprehensive exploration of optimal stopping quandaries.

The book will be of interest to researchers and practitioners in fields such as economics, finance, and engineering. It could also be used by graduate students doing a research degree in insurance, economics or business analytics or an advanced undergraduate course in mathematical sciences.


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