The present study introduces a continuous tracking procedure to investigate cognitive stopping in individual trials. Our measure of stopping performance had a mean similar to mean stopping times estimated in the stop signal paradigm, suggesting a common underlying process. Additional findings indicate that stopping performance and tracking performance were dissociable. First, while stopping tim...

Slot machine games used to be very simple, often limited to just one spin of the reels, but have evolved to accommodate a variety of features that provide added excitement and the potential for greater wins. They also engage the players more by, quite often, requiring them to make choices. This paper presents one of these games, Bitz & Pizzas. This case study introduces a novel application of O...

The paper presents results of theoretical studies of optimal stopping domains of American type options in discrete time. Sufficient conditions on the payoff functions and the price process for the optimal stopping domains to have onethreshold structure are given. We consider monotone, convex and inhomogeneous-intime payoff functions. The underlying asset’s price is modelled by an inhomogeneous ...

In this article we study the expected rank problem under full information. Our approach uses the planar Poisson approach from Gnedin (2007) to derive the expected rank of a stopping rule that is one of the simplest non-trivial examples combining rank dependent rules with threshold rules. This rule attains an expected rank lower than the best upper bounds obtained in the literature so far, in pa...

Early stopping due to futility, also referred to as a go/nogo decision, during interim analysis has become an important feature of clinical trial designs. Current methods for futility stopping in literature are mostly based on conditional power or predictive power in conjunction with the theory of stochastic curtailment or group sequential design. They have certain drawbacks that have been note...

The purpose of this study is to analyze the consequence of the existence of positive externality in the optimal choice of a firm’s time of investment in a gaming environment. I consider a situation where firms can increase their subsequent revenue stream by investing at a period of time. The investment opportunity is assumed to be one-time opportunity and once it is made, it cannot be redone, i...

We study the best-choice problem for processes which generalise the process of records from Poisson-paced i.i.d. observations. Under the assumption that the observer knows distribution of the process and the horizon, we determine the optimal stopping policy and for a parametric family of problems also derive an explicit formula for the maximum probability of recognising the last record.

We consider a firm that operates a single plant and has an expansion option to invest in a new plant. This setup leads to two-sided optimal stopping problems. We analyze optimal expansion timing and quantify the value of the loan commitment that the equityholder obtained from the lender and associated agency costs incurred on the lender’s side. Moreover, we incorporate construction period for t...

In this paper we investigate sufficient conditions that ensure the optimality of threshold strategies for optimal stopping problems with finite or perpetual maturities. Our result is based on a local-time argument that enables us to give an alternative proof of the smoothfit principle. Moreover, we present a class of optimal stopping problems for which the propagation of convexity fails.

A multi-player competitive Dynkin stopping game is constructed, extending the work of Guo and Rutkowski [6]. Each player can either exit the game for a fixed payoff, determined a priori, or stay and receive an adjusted payoff depending on the decision of other players. The single period case is shown to be “weakly unilaterally competitive” (Kats and Thisse [10] and De Wolf [2]). We present an e...