Bounded Rationality in Las Vegas: Probabilistic Finite Automata PlayMulti-Armed Bandits | AISC

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Canada LLMs Explained - Aggregate Intellect - AI.SCIENCE
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Published on ● Video Link: https://www.youtube.com/watch?v=9v6sUiqG5WM


Duration: 58:18
121 views
6

Speaker(s): Xinming Lily Liu
Facilitator(s): Jiri Stodulka

Find the recording, slides, and more info at https://ai.science/e/bounded-rationality-in-las-vegas-probabilistic-finite-automata-play-multi-armed-bandits--5ehKHjM2GVzWAlmNSRg0

Motivation / Abstract
The main motivation for this study was to develop an understanding of human behavior. The researchers examine how reinforcement learning, specifically multi-arm bandit, can mimic a human-like behavior through probabilistic finite automaton (PFA). According to the performed experiments, one can then observe human bias behavior exhibited by the machine.

What was discussed?
- what can be a business application of the method/findings?
- where else we in economics or human decision tasks we can observe such setting?

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