Sequential decision making with relative ranks: an experimental investigation of the "secretary problem"

Article Abstract:

Three alternative decision rules: cutoff rule, candidate count rule and successive non-candidate rule solve secretary problems (SP) effectively in complex situations of selecting the best applicant. Counters facilitate comparison of events with some fixed parameter value in a series of computer simulations to test for reliability of the three decision rules or behavioral models. Results show remarkable performance of the cutoff rule, where the decision maker rejects the first applicant then chooses the next top-ranked candidate, over the other two rules.

Employee Recruitment, Behavior Theory, Analysis, Usage, Case studies, Recruiting, Human behavior, Computer simulation, Decision-making, Group, Group decision making, Sequential analysis, Secretaries, Secretaries (Office), Counters (Electronics), Counters (Circuits)

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Coordination in market entry games with symmetric players

Article Abstract:

The findings of two experiments on tacit coordination in a class of market entry games are reported. Each of the 20 players must make a decision on whether to enter the market. Results indicate the immediate emergence of tacit coordination on the aggregate level despite the considerable difference among the subjects.

Game theory

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Modeling alliance activity: opportunity cost effects and manipulations in an iterated prisonerEs dilemma with exit option

Article Abstract:

Impact of alliance benefits and expense of quitting the alliance on the sustainability of the alliance is analyzed.

United States, Science & research, Management dynamics, Partnerships, Management, Economic aspects, Partnership, Company business management

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