What are some real-world consequences of poor Optimal Stopping de

Poor decisions in Optimal Stopping can lead to various real-world consequences. For instance, in the context of searching for a parking spot, a poor decision could result in wasting time and fuel, and potentially missing an appointment. In the case of renting an apartment, a delay could mean losing the opportunity to rent a desired property. Similarly, in hiring, a poor decision could mean missing out on a highly qualified candidate, which could impact the productivity and success of a business.

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"Optimal Stopping" problems refer to dilemmas that require the best decision in the shortest amount of time. How do you balance the need to get all the facts with the need to act before it's too late? Common examples include searching for the perfect parking spot, when to rent an apartment before they're all taken and when to hire the best candidate for a job. The latter has been thoroughly examined and discussed by mathematicians since the 1950s.

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Algorithms to Live By: The Computer Science of Human Decisions by Brian Christian and Tom Griffiths

Can computer science teach us the secrets of life? Perhaps not, but they can shed light on how certain everyday processes work and how to exploit them...

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