Web: http://arxiv.org/abs/2205.06107

May 13, 2022, 1:11 a.m. | Aroon Narayanan

cs.LG updates on arXiv.org arxiv.org

I study a game of strategic exploration with private payoffs and public
actions in a Bayesian bandit setting. In particular, I look at cascade
equilibria, in which agents switch over time from the risky action to the
riskless action only when they become sufficiently pessimistic. I show that
these equilibria exist under some conditions and establish their salient
properties. Individual exploration in these equilibria can be more or less than
the single-agent level depending on whether the agents start out …

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