Good news and bad news in two-armed bandits

• 成果类型: Article
• 署名作者: Camargo, Braz
• 署名单位: Western University (University of Western Ontario)
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1016/j.jet.2006.09.003
• 发表日期: 2007
• 页码: 558-566
• 关键词: two-armed bandits; stochastic orders

摘要

This note provides a characterization of optimal policies in a class of two-armed bandits that allows for correlated arms. This characterization extends previously known results in the literature. In particular, it implies, under a mild continuity assumption, the optimality of cutoff belief strategies for this class of bandits. Cutoff beliefs are not unique, though. (c) 2006 Elsevier Inc. All rights reserved.