Mastering the Explore-Exploit Tradeoff: Optimal Decision Making
Exploring the balance between exploration and exploitation in decision-making, inspired by Bayesian Optimization. Discover the art of finding optimal solutions.
One of my favorite concepts to apply to any problem is the “explore, exploit” tradeoff: search for the solution in a large area but take the time to exploit a given solution area when something works. Less abstractly, explore a given area, exploit whatever works, and continue to explore more closely around whatever works…