Research on the Satisficing Policy of the Secretary Problem
Xin Lin Wu, Yong Zhao · Applied Mechanics and Materials · 2013
The methods for determining optimal policies are core problems in the standard secretary problem. The optimal policies are based on the hypothesis of complete rationality. However, some experimental researches showed that decision makers in reality often stopped searching earlier. In this paper, some assumptions of the standard secretary problem are weakened and a satisficing policy based on the hypothesis of bounded rationality is proposed to describe the choice behavior of a decision maker. Moreover, the possibility degree of the decision-maker to choose the satisfactory item is calculated.