Understanding the exploitation-exploration trade-off with an instance
A Multi-Armed Bandit (MAB) is a traditional drawback in decision-making, the place an agent should select between a number of choices (referred to as “arms”) and maximize the full reward over a collection of trials. The issue will get its title from a metaphor involving a gambler at a row of slot machines (one-armed bandits), every with a distinct however unknown chance of paying out. The purpose is to seek out the perfect technique to drag the arms (choose actions) and maximize the gambler’s general reward over time. The MAB drawback is a flowery title for the exploitation-exploration trade-off.
The Multi-Armed Bandit drawback is a foundational drawback that arises in quite a few industrial purposes. Let’s discover it and study fascinating methods for fixing it.
You’ve simply arrived in a brand new metropolis. You’re a spy and plan to remain for 120 days to finish your subsequent project. There are three eating places on the town: Italian, Chinese language, and Mexican. You need to maximize your eating satisfaction throughout your keep. Nevertheless, you don’t know which restaurant would be the greatest for you. Right here’s how the three eating places stack up:
- Italian restaurant: Common satisfaction rating of…