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It seems to me that this would be a fair strategy (the immediate rejection or acceptance part, that is) if N is very large.

But for smaller and more manageable N, I would assume you're better off with just ranking them all, and work out some decision threshold afterwards - when you have all the information at hand.

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From the article:

“If the decision can be deferred to the end, this can be solved by the simple maximum selection algorithm of tracking the running maximum (and who achieved it), and selecting the overall maximum at the end. The difficulty is that the decision must be made immediately.”

Given that you can compare all N against each other, and then select, which this assumes you cannot.

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