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Optimal stopping

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In mathematics, the theory of optimal stopping or early stopping is concerned with the problem of choosing a time to take a particular action, in order to maximise an expected reward or minimise an expected cost. Optimal stopping problems can be found in areas of statistics, economics, and mathematical finance (related to the pricing of American options). A key example of an optimal stopping problem is the secretary problem. Optimal stopping problems can often be written in the form of a Bellman equation, and are therefore often solved using dynamic programming.

Optimal stopping - Wikipedia Jump to content From Wikipedia, the free encyclopedia Class of mathematical problems Not to be confused with Optional stopping theorem . "Dynkin game" redirects here. For the coupling card trick, see Dynkin's card trick . In mathematics , the theory of optimal stopping [ 1 ] [ 2 ] or early stopping [ 3 ] is concerned with the problem of choosing a time to take a particular action, in order to maximise an expected reward or minimise an expected cost. Optimal stopping problems can be found in areas of statistics , economics , and mathematical

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