Switching Costs and the Gittins Index

DOI10.2307/2951664MaRDI QIDQ4301032zbMATH OpenOpenAlexFDO

Authors Jeffrey S. Banks, Rangarajan K. Sundaram

Publication date 19 February 1995

Published in Econometrica (Search for Journal in Brave)

Full work available at URL https://authors.library.caltech.edu/67329/

zbMATH Keywords

Gittins indexswitching costsinfinite horizongeometric discountingindependent-armed bandit problemsindex strategies

Mathematics Subject Classification ID

Markov and semi-Markov decision processes (90C40)

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Cited in

(23)

• A general theory of multiarmed bandit processes with constrained arm switches
• On the (non-) reliance on algorithms -- a decision-theoretic account
• Stationary multi-choice bandit problems.
• THE FAIR REWARD PROBLEM: THE ILLUSION OF SUCCESS AND HOW TO SOLVE IT
• Multi-armed bandit processes with optimal selection of the operating times
• Gittins Index for Simple Family of Markov Bandit Processes with Switching Cost and No Discounting
• Response adaptive designs that incorporate switching costs and constraints
• A faster index algorithm and a computational study for bandits with switching costs
• Reinforcement learning and evolutionary algorithms for non-stationary multi-armed bandit problems
• Strategic conversations under imperfect information: epistemic message exchange games
• Generalized Bandit Problems
• Two-armed restless bandits with imperfect information: stochastic control and indexability
• Index policies for discounted bandit problems with availability constraints
• Some indexable families of restless bandit problems
• A perpetual search for talents across overlapping generations: a learning process
• Branching bandits: A sequential search process with correlated pay-offs.
• Dynamic priority allocation via restless bandit marginal productivity indices
• Prakash and Sertel's theory of non-cooperative equilibria in social systems --- twenty years later
• Keeping your options open
• Optimal learning with costly adjustment
• Optimal hysteresis for a class of deterministic deteriorating two-armed bandit problem with switching costs.
• Optimal learning and experimentation in bandit problems.
• A comparative study of ad hoc techniques and evolutionary methods for multi-armed bandit problems

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