A GOLD-MINING PROBLEM: OPTIMAL BACKUP STRATEGY IN COMPUTER PROGRAMS

  • Authors:

  • Minoru Sakaguchi;Toshio Hamada

  • Affiliations:

  • 3-26-4 Midorigaoka, Toyonaka, Osaka 560-0002, Japan;Department of Management Sciences, Kobe University of Commerce, Nishi-ku, Kobe 651-2197, Japan, E-mail: hamada@kobeuc.ac.jp

  • Venue:
  • Probability in the Engineering and Informational Sciences
  • Year:
  • 2000

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Abstract

We study an example of R. Bellman's gold-mining problem related to a programming job on the computer. The problem is formulated by dynamic programming and the optimal strategy is explicitly derived. The Bayesian version when the parameter involved is unknown is also solved by the same method. It is shown that the optimal strategy in each of two versions has the “no-island” (or, in other words, “control-limit”) property.