The purpose of this project is to analyze formal decision-models in terms of determining optimum decision rules when a number of projects can be undertaken simultaneously. This research is important because the findings will have a number of useful applications in economics. Almost all problems in search theory, dynamic allocation, and many information gathering problems can be analyzed in terms of the models to be developed and analyzed. For example, some of the applications include choosing technologies to develop products on the part of manufacturing firms, job search decisions confronted by workers, price search problems faced by consumers, exploration strategies for finding mineral and fossil fuel deposits, and investment decision making. The main objective of this study is to model and understand the parallel selection of projects. Previous studies have considered only the single project selection case. However, in most real world situations the decision maker is faced with the problem of parallel project choice. This research will study and determine the optimum strategies for the decision maker facing the problem of selecting parallel projects.
