Multiple Buying Or Selling With Vector Offers

X X X 1. Introduction and Summary. X X X k ; ; : : : k k N ; : : : ; N j j k X ; : : : ; X n X j ; ; : : : k c ? : : : c Universit'e Libre de Bruxelles University of California, Los Angeles KEYWORDS: OPTIMAL STOPPING, HOUSE-SELLING, JOB SEARCH, COST, DISCOUNT, RECALL, CONVEX SET FUNCTION AMS 1991 SUBJECT CLASSIFICATION: PRIMARY 60G40 SECONDARY 62L15 We consider a generalization of the house-selling problem to selling houses. Let the offers, , be independent, identically distributed -dimensional random vectors having a known distribution with finite second moments. The decision maker is to choose simultaneously stopping rules, , one for each component. The payoff is the sum over of the th component of minus a constant cost per observation until all stopping rules have stopped. Simple descriptions of the optimal rules are found. Extension is made to problems with recall of past offers and to problems with a discount. F. THOMAS BRUSS , THOMAS S. FERGUSON , 01/15/96 You own objects. Ea..