The Perils of Exploration under Competition: A Computational Modeling Approach
Proceedings of the 2019 ACM Conference on Economics and Computation, pp. 171-172, 2019.
We empirically study the interplay between exploration and competition. Systems that learn from interactions with users often engage in exploration: making potentially suboptimal decisions in order to acquire new information for future decisions. However, when multiple systems are competing for the same market of users, exploration may hu...More
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