Stationary Multi Choice Bandit Problems
AbstractThis note shows that the optimal choice of k simultaneous experiments in a stationary multi-armed bandit problem can be characterized in terms of the Gittins index of each arm. The index characterization remains equally valid after the introduction of switching costs.
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Bibliographic InfoPaper provided by Cowles Foundation for Research in Economics, Yale University in its series Cowles Foundation Discussion Papers with number 1240.
Length: 20 pages
Date of creation: Oct 1999
Date of revision:
Publication status: Published in Journal of Economic Dynamics and Control (2001), 25(1): 1585-1594
Note: CFP 1022.
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Other versions of this item:
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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Econometric Society, vol. 60(5), pages 1071-96, September.
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- Jean Guillaume Forand, 2013.
"Keeping Your options Open,"
1301, University of Waterloo, Department of Economics, revised Feb 2012.
- Thomas Brenner & Nicolaas J. Vriend, 2003.
"On the Behavior of Proposers in Ultimatum Games,"
502, Queen Mary, University of London, School of Economics and Finance.
- T. Brenner & N.J. Vriend, 2003. "On the Behavior of Proposers in Ultimatum Games," Papers on Economics and Evolution 2003-08, Max Planck Institute of Economics, Evolutionary Economics Group.
- Thomas Brenner & Nicolaas J. Vriend, 2003. "On the Behavior of Proposers in Ultimatum Games," CEEL Working Papers 0304, Cognitive and Experimental Economics Laboratory, Department of Economics, University of Trento, Italia.
- Keller, Godfrey & Oldale, Alison, 2003. "Branching bandits: a sequential search process with correlated pay-offs," Journal of Economic Theory, Elsevier, vol. 113(2), pages 302-315, December.
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