A Secretary Problem with Finite Memory
Murray H. Smith, John Deely · Journal of the American Statistical Association · 1975
This article considers the variation of the Secretary Problem where at any stage each of the last m applicants are available for employment. We show that the form of the stopping rule which maximizes the probability of employing the best applicant is: stop at the first stage, from r* onwards, when the relatively best applicant is about to become unavailable. A simple algorithm for evaluating r* and the probability of employing the best applicant is outlined.