Jacka, Saul D., Warren, Jon and Windridge, Peter (2011) Minimizing the time to a decision. Annals of Applied Probability, Vol.21 (No.5). pp. 1795-1826. doi:10.1214/10-AAP737

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Abstract

Suppose we have three independent copies of a regular diffusion on [0, 1] with absorbing boundaries. Of these diffusions, either at least two are absorbed at the upper boundary or at least two at the lower boundary. In this way, they determine a majority decision between 0 and 1. We show that the strategy that always runs the diffusion whose value is currently between the other two reveals the majority decision whilst minimizing the total time spent running the processes.

Item Type:	Journal Article
Subjects:	Q Science > QA Mathematics
Divisions:	Faculty of Science > Statistics
Library of Congress Subject Headings (LCSH):	Diffusion processes, Decision making
Journal or Publication Title:	Annals of Applied Probability
Publisher:	Institute of Mathematical Statistics
ISSN:	1050-5164
Official Date:	October 2011
Dates:	Date Event October 2011 Published
Date of first compliant deposit:	18 December 2015
Volume:	Vol.21
Number:	No.5
Page Range:	pp. 1795-1826
DOI:	10.1214/10-AAP737
Status:	Peer Reviewed
Publication Status:	Published
Access rights to Published version:	Restricted or Subscription Access
Version or Related Resource:	Earlier version: Jacka, S., Warren, J. and Windridge, P. (2011). Minimising the time to a decision. [Coventry] : University of Warwick, Centre for Research in Statistical Methodology. (Working papers, no.11-05).
Related URLs:	Related item in WRAP

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