Sequential Observation and Selection with Rank-Dependent Payoffs: An Experimental Study
Abstract
We consider a class of sequential observation and selection decision problems in which applicants are interviewed one at a time, decision makers only learn the applicant's quality relative to the applicants that have been interviewed and rejected, only a single applicant is selected, and payoffs increase in the absolute quality of the selected applicant. Compared to the optimal decision policy, which we compute numerically, results from two...
Paper Details
Title
Sequential Observation and Selection with Rank-Dependent Payoffs: An Experimental Study
Published Date
Sep 1, 2006
Journal
Volume
52
Issue
9
Pages
1437 - 1449
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