Sequential Choice Under Ambiguity: Intuitive Solutions to the Armed-Bandit Problem

DOI10.1287/MNSC.41.5.817zbMATH Open0843.90005OpenAlexW1987360242MaRDI QIDQ4865407FDOQ4865407

Authors: Robert J. Meyer, Yong Shi 

Publication date: 13 February 1996

Published in: Management Science (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1287/mnsc.41.5.817

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zbMATH Keywords

heuristicslearningrisk takingdecision making under uncertaintysequential decision analysisarmed-bandit problemdynamic decision theoryoptimal Bernoulli samplerrepeated choices

Mathematics Subject Classification ID

Decision theory (91B06) Stopping times; optimal stopping problems; gambling theory (60G40)

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• Robust experimentation in the continuous time bandit problem
• Unfazed by both the bull and bear: strategic exploration in dynamic environments
• Using adaptive learning in credit scoring to estimate take-up probability distribution
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• Learning, risk attitude and hot stoves in restless bandit problems
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• Meaningful learning in weighted voting games: an experiment

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