The Internet Archive has a preservation copy of this work in our general collections.
The file type is
Multi-armed bandit problems are the most basic examples of sequential decision problems with an exploration-exploitation trade-off. This is the balance between staying with the option that gave highest payoffs in the past and exploring new options that might give higher payoffs in the future. Although the study of bandit problems dates back to the Thirties, exploration-exploitation trade-offs arise in several modern applications, such as ad placement, website optimization, and packet routing.arXiv:1204.5721v2 fatcat:kpclt3fswzewtcsjp7hkjncd6q