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When To Try New Things (According to Math)

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The Explore/Exploit Trade Off. The best algorithm for when to try new things and when to stick to what you know: the Gittins Index. Based on a chapter of the book Algorithms to Live By, The Computer Science of Human Decisions by Brian Christian and Tom Griffiths.

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Sources:
Algorithms to Live By - The Computer Science of Human Decisions by Brian Christian and Tom Griffiths
https://www.amazon.com/Algorithms-Live-Computer-Science-Decisions/dp/1627790365

http://criticaldensity.blogspot.com/2017/07/explore-or-exploit.html

Further reading on the Gittins Index:
https://en.wikipedia.org/wiki/Gittins_index
http://www.ece.mcgill.ca/~amahaj1/projects/bandits/book/2013-bandit-computations.pdf
http://www.mit.edu/~jnt/Papers/J048-94-jnt-gittins.pdf

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