Dynamic Pricing with Multi-Armed Bandit: Learning by Doing!

Dynamic Pricing with Multi-Armed Bandit: Learning by Doing

Applying Reinforcement Learning strategies to real-world use cases, especially in dynamic pricing, can reveal many surprises

Dynamic Pricing, Reinforcement Learning and Multi-Armed Bandit

In the vast world of decision-making problems, one dilemma is particularly owned by Reinforcement Learning strategies: exploration versus exploitation. Imagine walking into a casino with rows of slot machines (also known as “one-armed bandits”) where each machine pays out a different, unknown reward. …

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