LEARNINGCORE

Multi-Armed Bandit

Balance pulling the best-known lever against testing new ones. Regret is the score.

λ mean ≈ variance
counts per window · recreated schematic

How it works

  • Each pull teaches and earns — explore or exploit, every round.
  • Regret (vs the best lever in hindsight) is the scoreboard.
  • Optimism under uncertainty: try what could plausibly be best.
Use → Trials, dosing, ad creative. Run small experiments, then exploit.
Watch out → Declaring a winner after ten pulls.
Try it → A/B/C test with 10% exploration for a month.
REDCAPE jobs → Act · Explore
Free sources → Wikipedia: Multi-armed bandit (CC BY-SA) • Coursera M11 (Learning)