How Do Humans Handle the Dilemma of Exploration and Exploitation in Sequential Decision Making?
Naoya Namiki, Kuratomo Oyo, Tatsuji Takahashi · 2015
In an uncertain environment, decision-making meets two opposing demands. One is to explore new information, while the other is to exploit already acquired information. The opposition is long called the exploration-exploitation dilemma. In brain science, it is known that human brain estimates options