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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Main Authors: Xiujuan Gao, Hao Liang, Tong Wang
Format: Article
Language:English
Published: Hindawi Limited 2018-01-01
Series:Mathematical Problems in Engineering
Online Access:http://dx.doi.org/10.1155/2018/4791590
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spelling 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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