Hung Y.-C.YING-CHAO HUNG2022-11-112022-11-1120090012365Xhttps://www.scopus.com/inward/record.uri?eid=2-s2.0-62149083026&doi=10.1016%2fj.disc.2008.02.017&partnerID=40&md5=3a369a17dd5d0e7f8eb7a43e219d8cddhttps://scholars.lib.ntu.edu.tw/handle/123456789/625037Shepp's urn model is a useful tool for analyzing the stopping-rule problems in economics and finance. In [R.W. Chen, A. Zame, C.T. Lin, H. Wu, A random version of Shepp's urn scheme, SIAM J. Discrete Math. 19 (1) (2005) 149-164], Chen et al. considered a random version of Shepp's urn scheme and showed that a simple drawing policy (called "the k in the hole policy") can asymptotically maximize the expected value of the game. By extending the work done by Chen et al., this note considers a more general urn scheme that is better suited to real-life price models in which the short-term value might not fluctuate. Further, "the k in the hole policy" is shown to be asymptotically optimal for this new urn scheme. © 2008 Elsevier B.V. All rights reserved.Optimal drawing policy; Shepp's urn scheme; Stopping time; The k in the hole policy[SDGs]SDG8Asymptotic analysis; Asymptotically optimal; Expected values; Optimal drawing policy; Price models; Shepp's urn scheme; Stopping time; Term values; The k in the hole policy; Urn models; Optimizationjournal article10.1016/j.disc.2008.02.0172-s2.0-62149083026