105. Secretary Problem & Optimal Stop Theory: How to Choose One from Many

Game Theory

Episode 105. In this episode, the hosts discuss various topics including the challenges of moving, a dating app lawsuit, the impact of Seattle's delivery laws, AI-generated content, the secretary problem, and the application of cardinal and ordinal information in decision making. They also touch on Euler's constant and its significance in mathematics. The conversation explores the use of optimal stopping theorem and the 37% rule in decision making processes. The hosts provide insights into the housing market and the importance of considering both cardinal and ordinal information when making choices. The conversation explores the secretary problem and its applications in real life decision-making, such as hiring and dating. It discusses the odds of finding the best candidate and how mathematical value can improve decision-making. The objections to the secretary problem are also examined, highlighting the limitations of its application in real-life scenarios. The importance of being boring and the value of the first candidate through the door are emphasized. The conversation concludes with a lighthearted discussion on the optimal dressing problem and random banter. Takeaways Moving can be a challenging experience that can disrupt regular activities and hobbies. Dating apps may face legal action for allegedly using gambling strategies to keep users addicted. Seattle's delivery laws have resulted in unintended consequences, such as decreased orders and lower tips. AI-generated content and scripts are being explored in various industries, including the film industry. The secretary problem and optimal stopping theorem provide mathematical solutions for decision making processes. Cardinal and ordinal information play a role in decision making, with cardinal information providing more precise evaluations. Mathematical value can improve decision-making in scenarios like hiring and dating. The secretary problem has limitations in real-life decision-making due to factors like cardinal or relative goodness and the availability of information. Being boring can be a smart and aggressive approach to decision-making. The first candidate through the door can often be the best choice. The optimal dressing problem is a relatable example of decision-making with emotional factors. Chapters 00:00 Introduction and Technical Difficulties 01:12 The Challenges of Moving 01:56 Dating App Lawsuit 03:00 The Goal of Electronic User Products 04:02 Freerice.com and Ad Revenue 05:13 DoorDash and Seattle's Ordinance 06:02 The Impact of Seattle's Delivery Laws 07:16 The Purpose of Food Delivery Jobs 08:09 AI-Generated Content and the Madam Web Movie 09:20 The Theory of AI-Generated Scripts 10:13 AI in Commercials 10:56 Upcoming Episodes: AI-Generated Content, Insurance, and Cicadas 12:08 The Secretary Problem and Optimal Stoppage Theorem 15:37 Applying the Secretary Problem to Housing 18:11 Cardinal and Ordinal Information 19:13 Optimal Stopping Theorem and Euler's Constant 23:36 Euler's Number and Its Applications 28:16 Cardinal vs Ordinal Information in Decision Making 36:01 The Odds of Finding the Best Candidate 37:34 The Secretary Problem in Real Life 38:53 The Dating and Marriage Problem 40:02 Objections to the Secretary Problem 44:03 The Importance of Being Boring 46:25 The First Candidate Through the Door 47:48 The Optimal Dressing Problem 49:13 Random Banter Links: https://www.reddit.com/r/slatestarcodex/comments/azpkge/the_secretary_problem_is_too_bad_a_match_for_real/?rdt=45403