Abstract
In a novel multiplayer extension of the famous secretary problem, multiple players seek to employ secretaries from a common labour pool. Secretaries do not accept being put on hold, always accept job offers immediately, and leave the labour pool once rejected by a single player. All players have an identical preference for secretaries, and all players seek to optimize the probability of obtaining the best of all n secretaries. We find that in the Nash equilibrium, as the number, N, of players searching the labour pool grows, the optimal strategy converges to a simple function of N. For the two-player case we also compute how much players can gain through cooperation and how the optimal strategy changes under a payoff structure that promotes spite.
Original language | English |
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Pages (from-to) | 104-113 |
Number of pages | 10 |
Journal | Mathematical Methods of Operations Research |
Volume | 62 |
Issue number | 1 |
Early online date | 21 Jan 2014 |
DOIs | |
Publication status | Published - Jan 2014 |
Keywords
- Secretary problem
- Game theory
- Sequential decision analysis