A Common Value Experimentation with Multiarmed Bandits
We study a value common experimentation with multiarmed bandits and give an application about the experimentation. The second derivative of value functions at cutoffs is investigated when an agent switches action with multiarmed bandits. If consumers have identical preference which is unknown and pu...
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Hindawi Limited
2018-01-01
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Series: | Mathematical Problems in Engineering |
Online Access: | http://dx.doi.org/10.1155/2018/4791590 |
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doaj-700a0728fa4c4c4f99e34027a20eea862020-11-25T01:58:31ZengHindawi LimitedMathematical Problems in Engineering1024-123X1563-51472018-01-01201810.1155/2018/47915904791590A Common Value Experimentation with Multiarmed BanditsXiujuan Gao0Hao Liang1Tong Wang2The School of Economic Mathematics, Southwestern University of Finance and Economics, 611130 Wenjiang, Chengdu, ChinaThe School of Economic Mathematics, Southwestern University of Finance and Economics, 611130 Wenjiang, Chengdu, ChinaThe School of Economic Mathematics, Southwestern University of Finance and Economics, 611130 Wenjiang, Chengdu, ChinaWe study a value common experimentation with multiarmed bandits and give an application about the experimentation. The second derivative of value functions at cutoffs is investigated when an agent switches action with multiarmed bandits. If consumers have identical preference which is unknown and purchase products from only two sellers among multiple sellers, we obtain the necessary and sufficient conditions about the common experimentation. The Markov perfect equilibrium and the socially effective allocation in K-armed markets are discussed.http://dx.doi.org/10.1155/2018/4791590 |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
Xiujuan Gao Hao Liang Tong Wang |
spellingShingle |
Xiujuan Gao Hao Liang Tong Wang A Common Value Experimentation with Multiarmed Bandits Mathematical Problems in Engineering |
author_facet |
Xiujuan Gao Hao Liang Tong Wang |
author_sort |
Xiujuan Gao |
title |
A Common Value Experimentation with Multiarmed Bandits |
title_short |
A Common Value Experimentation with Multiarmed Bandits |
title_full |
A Common Value Experimentation with Multiarmed Bandits |
title_fullStr |
A Common Value Experimentation with Multiarmed Bandits |
title_full_unstemmed |
A Common Value Experimentation with Multiarmed Bandits |
title_sort |
common value experimentation with multiarmed bandits |
publisher |
Hindawi Limited |
series |
Mathematical Problems in Engineering |
issn |
1024-123X 1563-5147 |
publishDate |
2018-01-01 |
description |
We study a value common experimentation with multiarmed bandits and give an application about the experimentation. The second derivative of value functions at cutoffs is investigated when an agent switches action with multiarmed bandits. If consumers have identical preference which is unknown and purchase products from only two sellers among multiple sellers, we obtain the necessary and sufficient conditions about the common experimentation. The Markov perfect equilibrium and the socially effective allocation in K-armed markets are discussed. |
url |
http://dx.doi.org/10.1155/2018/4791590 |
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