Explore vs. exploit in multi-armed bandits

Ever heard of the multi-armed bandit problem? It’s a classic dilemma that perfectly captures the tension between two powerful strategies: explore vs. exploit. So what’s the big deal? Why does this matter? Let’s break it down. What does “explore” mean? Exploring means diving into the unknown. It’s about trying new things, gathering data and learning what works and what doesn’t. Think of it as your research phase - the time when you’re curious and open to possibilities. ...

December 14, 2024