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Much of the classical work on algorithms for multi-armed bandits focuses on rewards that are stationary over time. By contrast, we study multi-armed bandit (MAB) games, where the rewards obtained by an agent also depend on how many other agents choose the same arm (as might be the case in many...
Persistent link: https://www.econbiz.de/10014170279
Recent Medicare legislation seeks to improve patient care quality by financially penalizing providers for hospital-acquired infections (HAIs). However, Medicare cannot directly monitor HAI rates, and instead relies on providers accurately self-reporting HAIs in claims to correctly assess...
Persistent link: https://www.econbiz.de/10011862259
Big data has enabled decision-makers to tailor decisions at the individual-level in a variety of domains such as personalized medicine and online advertising. This involves learning a model of decision rewards conditional on individual-specific covariates. In many practical settings, these...
Persistent link: https://www.econbiz.de/10014035792
How should agents bid in repeated sequential auctions when they are budget constrained? A motivating example is that of sponsored search auctions, where advertisers bid in a sequence of generalized second price (GSP) auctions. These auctions, specifically in the context of sponsored search, have...
Persistent link: https://www.econbiz.de/10013090937
We study the problem of learning shared structure across a sequence of dynamic pricing experiments for related products. We consider a practical formulation where the unknown demand parameters for each product come from an unknown distribution (prior) that is shared across products. We then...
Persistent link: https://www.econbiz.de/10012850146
To mitigate environmental and social harm, policy-makers often provide incentives or impose sanctions to discourage harmful behavior. Such policies are usually implemented with limited monitoring capabilities, which may cause strategic behavior that leads to unintended consequences. Three...
Persistent link: https://www.econbiz.de/10012850462
Problem definition: We study personalized product recommendations on platforms when customers have unknown preferences. Importantly, customers may disengage when offered poor recommendations.Academic / Practical Relevance: Online platforms often personalize product recommendations using bandit...
Persistent link: https://www.econbiz.de/10012851483
The field of operations management has witnessed a fast-growing trend of data analytics in recent years. In particular, spurred by the increasing availability of data and methodological advancement in machine learning, a large body of recent literature in this field takes advantage of machine...
Persistent link: https://www.econbiz.de/10013252402
Responsible sourcing is a priority for companies and consumers concerned with corporate social responsibility (CSR) in global supply chains. Most brands' product lines contain just a few products certified by third parties- which suggests that brands limit their efforts at ensuring that...
Persistent link: https://www.econbiz.de/10012827836
We study how to reduce congestion in two-sided matching markets with private preferences. We measure congestion by the number of bits of information that agents must (i) learn about their own preferences, and (ii) communicate with others before obtaining their final match. Previous results by...
Persistent link: https://www.econbiz.de/10012901915