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The decision-maker (DM) sequentially evaluates up to N of different, rankableoptions. DM must select exactly the best one at the moment of its appearance.In the process of searching, DM finds out with each applicant whether she isthe best applicant among those assessed so far (we call him a candidate). DMcannot return to rejected candidates. We discuss the psychological aspects ofthis selection problem, known in the literature as the secretary problem. Theanalysis is based on knowledge of the chances, and a subjective assessment ofacceptance of the positive and negative effects DM's decision. The acceptanceassessment of success and failure is presented on subjective scales. We set anoptimal policy that recommends analyzing applicants up to a certain point intime (a threshold time) without selecting any of them and then selecting thenext encountered candidate. The determined optimal threshold depends on thelevel of acceptance of the positive and negative effects of the choice. Thisissue is discussed in the article.

Sequential selections with minimization of failure