Minimizing the time to a decision

Citation
Jacka, Saul et al., Minimizing the time to a decision, Annals of applied probability , 21(5), 2011, pp. 1795-1826
ISSN journal
10505164
Volume
21
Issue
5
Year of publication
2011
Pages
1795 - 1826
Database
ACNP
SICI code
Abstract
Suppose we have three independent copies of a regular diffusion on [0, 1] with absorbing boundaries. Of these diffusions, either at least two are absorbed at the upper boundary or at least two at the lower boundary. In this way, they determine a majority decision between 0 and 1. We show that the strategy that always runs the diffusion whose value is currently between the other two reveals the majority decision whilst minimizing the total time spent running the processes.