Strong Optimality of the Shoot-Adjust-Shoot Strategy

Published Online:https://doi.org/10.1287/opre.22.6.1252

This paper shows that seemingly different “adjustment” procedures are equivalent, if viewed in appropriate coordinate systems. It extends previous results concerning sequential adjustments that are constrained to be linear functions of observed impact points to the class of translation-invariant procedures. It also reviews properties of the optimal sequential adjustment procedure, including some related to stochastic approximation.

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