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The Multi-Armed Bandit Problem and Its Solutions
The multi-armed bandit problem is a classic example to demonstrate the exploration versus exploitation dilemma. This post introduces the bandit problem and how to solve it using different exploration strategies. Exploitation vs Exploration What is Multi-Armed Bandit? Definition Bandit Strategies ε-Greedy Algorithm Upper Confidence Bounds Hoeffding’s Inequality UCB1 Bayesian UCB Thompson Sampling Case Study Summary …