Suboptimal decision rule for attacking targets of opportunity
Takasi Kisi · Naval Research Logistics Quarterly · 1976
Abstract A player having only a definite number of weapons is hunting targets. His total hunting time is also limited. Targets of opportunity with various values arrive at random, and as soon as a target arrives the player observes the target value and decides whether or not to shoot it down. The issue is what the decision rule is which guarantees him a maximum expected gain during the hunting time. Poisson arrival of the targets, uniform distribution of the target value, and the shoot‐look‐shoot scheme qre assumed. A decision rule is derived which is not optimal but has a very simple form and gives almost as good value as the optimal decision rule does.