Volatility promotes exploration and stochasticity suppresses it in Gaussian state-space bandits, shown by extending Gittins indices and deriving the CAUSE exploration bonus via control-as-inference.
Bandit processes and dynamic allocation indices.Journal of the Royal Statistical Society Series B: Statistical Methodology, 41(2):148–164, 1979
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Not all uncertainty is alike: volatility, stochasticity, and exploration
Volatility promotes exploration and stochasticity suppresses it in Gaussian state-space bandits, shown by extending Gittins indices and deriving the CAUSE exploration bonus via control-as-inference.