Jan L. Cieśliński

The Gittins Index for a Transparent One-Armed Bandit with a Continuous Payoff Spectrum in Equilibrium States

We present an analogue of the classical Gittins index for a one-armed decision problem with a continuous spectrum of payoffs. The model assumes that the decision-maker observes independent realizations of a random variable and, at each step, decides whether to accept the current...