I've been thinking about an "inverse secretary problem" for choosing contract jobs:
1. I have a limited time in which to secure the next contract
2. Potential clients opportunities appear at a fixed rate (eg 1-2/week)
3. Each client has a different, unknown, maximum daily rate (MDR) they are willing pay. I can discover the MDR only by quoting a higher rate ("sorry the most we can go to is $XXX").
4. If I quote a lower rate than the client's MDR, I have a new contract and the game stops.
Given my goal is to find the client who will pay the highest daily rate before the deadline, what is the best strategy?
My best guess at the moment is to start at a high rate, and gradually decrease it as the deadline approaches. But how can I use the information I gather about rejected client's MDRs to decide the best daily rate to quote future potential clients?
1. I have a limited time in which to secure the next contract
2. Potential clients opportunities appear at a fixed rate (eg 1-2/week)
3. Each client has a different, unknown, maximum daily rate (MDR) they are willing pay. I can discover the MDR only by quoting a higher rate ("sorry the most we can go to is $XXX").
4. If I quote a lower rate than the client's MDR, I have a new contract and the game stops.
Given my goal is to find the client who will pay the highest daily rate before the deadline, what is the best strategy?
My best guess at the moment is to start at a high rate, and gradually decrease it as the deadline approaches. But how can I use the information I gather about rejected client's MDRs to decide the best daily rate to quote future potential clients?