The theory of Markov decision processes (MDP) can be used to analyze a wide variety of stopping time problems in economics. In this paper, the nature of such problems is discussed and then the underlying theory is applied to the question of arranged marriages. We construct a stylized model of arranged marriages and, inter alia, it is shown that a decision maker's optimal policy depends only on the nature of the current marriage proposal, independent of whether there is recall (storage) (...) of previous marriage proposals. (shrink)

Gurcharan Das: The Difficulty of Being Good: On the Subtle Art of Dharma Content Type Journal Article Category Book Review Pages 1-4 DOI 10.1007/s10806-011-9321-7 Authors Amitrajeet A. Batabyal, Department of Economics, Rochester Institute of Technology, Rochester, NY 14623-5604, USA Journal Journal of Agricultural and Environmental Ethics Online ISSN 1573-322X Print ISSN 1187-7863.

Stephen Hawking and Leonard Mlodinow: The Grand Design Content Type Journal Article DOI 10.1007/s10806-010-9298-7 Authors Amitrajeet A. Batabyal, Department of Economics, Rochester Institute of Technology, Rochester, NY 14623-5604, USA Journal Journal of Agricultural and Environmental Ethics Online ISSN 1573-322X Print ISSN 1187-7863.