Constrained Sequential Resource Allocation and Guessing Games

In this paper, we consider a constrained sequential resource allocation problem where an individual needs to accomplish a task by repeatedly guessing/investing a sufficient level of effort/input. If the investment falls short of a minimum required level that is unknown to the individual, she fails; with each unsuccessful attempt, the individual then increases the input and tries again until she succeeds. The objective is to complete the task with as little resources/cost as possible subject to a delay constraint. The optimal strategy lies in the proper balance between 1) selecting a level (far) below the minimum required and therefore having to try again, thus wasting resources, and 2) selecting a level (far) above the minimum required, and therefore, overshooting and wasting resources. A number of motivating applications arising from communication networks are provided. Assuming that the individual has no knowledge on the distribution of the minimum effort required to complete the tas...

• Type: Journal
• Year: 2008
• Where: TIT
• Authors: Nicholas B. Chang, Mingyan Liu
• Keywords: Constrained Sequential Resource, Individual, Minimum Required Level, TIT 2008