Incentivizing Exploration with Heterogeneous Value of Money
Workshop on Internet and Network Economics, 2015.
Recently, Frazier et al.i¾?proposed a natural model for crowdsourced exploration of different a priori unknown options: a principal is interested in the long-term welfare of a population of agents who arrive one by one in a multi-armed bandit setting. However, each agent is myopic, so in order to incentivize him to explore options with be...More
PPT (Upload PPT)