Optimal stopping problems for maxima and minima in models with asymmetric information

Figures & data

Figure 1. A computer drawing of the continuation and stopping regions $C_{1,1}^{\ast }$ and $D_{1,1}^{\ast }$ formed by the optimal exercise boundary $a_1^{\ast }(s)$ and its estimates ${\underset{\_}{a}}_1$ and ${\overline{a}}_1$.

Figure 2. A computer drawing of the continuation and stopping regions $C_{1,2}^{\ast }$ and $D_{1,2}^{\ast }$ formed by the optimal exercise boundary $b_1^{\ast }(s)$ and its estimates ${\underset{\_}{b}}_1$ and ${\overline{b}}_1$.

Figure 3. A computer drawing of the continuation and stopping regions $C_{2,1}^{\ast }$ and $D_{2,1}^{\ast }$ formed by the optimal exercise boundary $a_2^{\ast }(s)$ and its estimates ${\underset{\_}{a}}_2(s)$ and ${\overline{a}}_2(s)$.

Figure 4. A computer drawing of the continuation and stopping regions $C_{2,2}^{\ast }$ and $D_{2,2}^{\ast }$ formed by the optimal exercise boundary $b_2^{\ast }(q)$ and its estimates ${\underset{\_}{b}}_2(q)$ and ${\overline{b}}_2(q)$.

Figure 6. A computer drawing of the continuation and stopping regions $C_{3,2}^{\ast }$ and $D_{3,2}^{\ast }$ formed by the optimal exercise boundary $b_3^{\ast }(q)$ and the points $K_3$ and $K_3\alpha /(\alpha +1)$.

Figure 5. A computer drawing of the continuation and stopping regions $C_{3,1}^{\ast }$ and $D_{3,1}^{\ast }$ formed by the optimal exercise boundary $a_3^{\ast }(s)$ and the points $L_3$ and $L_3\alpha /(\alpha +1)$.