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A Survey of Risk-Aware Multi-Armed Bandits. (arXiv:2205.05843v1 [stat.ML])
May 13, 2022, 1:11 a.m. | Vincent Y. F. Tan, Prashanth L.A., Krishna Jagannathan
cs.LG updates on arXiv.org arxiv.org
In several applications such as clinical trials and financial portfolio
optimization, the expected value (or the average reward) does not
satisfactorily capture the merits of a drug or a portfolio. In such
applications, risk plays a crucial role, and a risk-aware performance measure
is preferable, so as to capture losses in the case of adverse events. This
survey aims to consolidate and summarise the existing research on risk
measures, specifically in the context of multi-armed bandits. We review various
risk …
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