Dynamic programming analysis of the TV game "Who wants to be a millionaire?"

This paper uses dynamic programming to investigate when contestants should use lifelines or when they should just stop answering in the TV quiz show ‘Who wants to be a millionaire?’. It obtains the optimal strategies to maximize the expected reward and to maximize the probability of winning a given amount of money. Ó 2006 Elsevier B.V. All rights reserved.

• Type: Journal
• Year: 2007
• Where: EOR
• Authors: Federico Perea, Justo Puerto
• Keywords: Dynamic Programming, EOR 2007, Optimal Strategies, TV Quiz