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Beat the clock

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Summary

Let the hand of a clock moving at constant speed be set so as to stop at any point with equal probability. A decision-maker receives the amount shown by the hand if he calls “stop” before the clock stops on its own, otherwise he gets nothing. Find the best strategy.

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References

  • Ferschl F (1987) Information und bedingte Wahrscheinlichkeiten. Jahrbücher für Nationalökonomie und Statistik, Bd 203, Heft 5/6:498–506

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Authors and Affiliations

  1. Institut für Angewandte Mathematik und Statistik, TU München, Arcisstraße 21, D-8000, München 2, FRG

    M. J. Beckmann

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  1. M. J. Beckmann
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Beckmann, M.J. Beat the clock. ZOR - Methods and Models of Operations Research 33, 63–67 (1989). https://doi.org/10.1007/BF01415519

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  • DOI: https://doi.org/10.1007/BF01415519

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