Irreversible Decisions under Uncertainty Optimal Stopping Made Easy / by Svetlana Boyarchenko, Sergei Levendorskii.
In real life, as well as in economic models, individuals often make decisions in an uncertain environment. In many cases, a problem which an optimizing agent faces can be formulated or reformulated as a problem of optimal timing of a certain irreversible or partially reversible action or optimal sto...
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