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Recognising the Last Record of a Sequence

Alexander Gnedin

math.PRarXiv:math/0602278

Abstract

We study the best-choice problem for processes which generalise the process of records from Poisson-paced i.i.d. observations. Under the assumption that the observer knows distribution of the process and the horizon, we determine the optimal stopping policy and for a parametric family of problems also derive an explicit formula for the maximum probability of recognising the last record.

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