Two-armed silicon

On ergodic two-armed bandits

A device has two arms with unknown deterministic payoffs, and the aim is to asymptotically identify the best one without spending too much time on the other. The Narendra algorithm offers a stochastic procedure to this end. We show under weak ergodic assumptions on these deterministic payoffs that the procedure eventually chooses the best arm (i.e. with greatest Cesaro limit) with probability o...

Armed Robbery: Two Police Responses

The report summarises what is known about the extent and nature of armed robbery nationally, highlighting the reductions in the number of these crimes in 1994 and 1995. It goes on to examine the policing strategies in two very different forces the Metropolitan Police and South Yorkshire Police showing how the police response can be tailored to the particular environment and local circumstances....

A two armed bandit type problem

A Two-Armed Bandit Theory of Market

Economics lacks a good theory of how stores should set their prices when they do not know the demand functions of their customers. Traditional theory either assumes that firms know their demand curves, or that they can, if necessary, find them out easily and costlessly from market experience. The market will inform the perfectly competitive firm of its demand function with ruthless efficiency. ...

Probability ON ERGODIC TWO - ARMED BANDITS

A device has two arms with unknown deterministic payoffs, and the aim is to asymptotically identify the best one without spending too much time on the other. The Narendra algorithm offers a stochastic procedure to this end. We show under weak ergodic assumptions on these deterministic payoffs that the procedure eventually chooses the best arm (i.e. with greatest Cesaro limit) with probability o...