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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 ISSN 1050-5164.
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Official URL: http://dx.doi.org/10.1214/10-AAP737
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 | ||||
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Subjects: | Q Science > QA Mathematics | ||||
Divisions: | Faculty of Science, Engineering and Medicine > 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: |
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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 | ||||
Date of first compliant deposit: | 18 December 2015 | ||||
Date of first compliant Open Access: | 18 December 2015 | ||||
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). | ||||
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