Exploitation vs. exploration: Choosing a supplier in an environment of incomplete information

Decision Support Systems

Volumn 38, Issue 1, 2004, Pages 1-18

  Azoulay Schwartz, Rina ^a   Kraus, Sarit ^a,b   Wilkenfeld, Jonathan ^b  

^a BAR ILAN UNIVERSITY   (Israel)

^b UNIVERSITY OF MARYLAND   (United States)

Author keywords

Choosing a supplier; Decision making; Electronic commerce; Incomplete information

Indexed keywords

DECISION MAKING; DECISION SUPPORT SYSTEMS; DISTRIBUTION OF GOODS; INFORMATION RETRIEVAL; PROBLEM SOLVING; PURCHASING; QUALITY ASSURANCE; SALES;

EXPLORATION; INCOMPLETE INFORMATION; STANDARD DEVIATION; SUPPLIERS;

ELECTRONIC COMMERCE;

EID: 4243096065     PISSN: 01679236     EISSN: None     Source Type: Journal    
DOI: 10.1016/S0167-9236(03)00061-7     Document Type: Article

References (14)

1. amazon, Amazon, http://www.amazon.com, 2001.
2. Berry D.A., Fristedt B. Bandit Problems: Sequential Allocation of Experiments. 1985;Chapman and Hall, London, UK.
3. Dean T.L., Wellman M.P. Planning and Control. 1991;Morgan Kaufmann Publishers, San Mateo, CA.
4. C. Eric, K. Hann, I. Hitt, The nature of competition in electronic markets: An empirical investigation of online travel agent offerings, WP, The Wharton School of the Univ. of Pennsylvania, 1998.
5. Gittins J.C. Multi-Armed Bandit Allocation Indices. 1989;Wiley, New York.
6. Hilgard E.R., Bower G.H. Theories of Learning. 1975;Prentice-Hall, Englewood Cliffs, NJ.
7. Kaelbling L.P., Littman M.L., Moore A.W. Reinforcement learning: a survey. JAIR. 4:1996;237-285.
8. Salganicoff M., Ungar L.H. Active exploration and learning in real-valued spaces using multi-armed bandit allocation indices. Proceedings of the 12th International Conference on Machine Learning, San Francisco, CA:1995;480-487.
9. Schaerf A., Shoham Y., Tennenholtz M. Adaptive load balancing: a study in multi-agent learning. JAIR. 2:1995;475-500.
10. Strader T.J., Shaw M.J. Characteristics of electronic markets. Decis. Support Syst. 3(21):1997;185-198.
11. Sutton R.S., Barto A.G. Reinforcement Learning: An Introduction. 1998;MIT Press, Cambridge, MA.
12. Tirole J. The Theory of Industrial Organization. 1988;MIT Press, Cambridge, MA.
13. Westland J.C. Transaction risk in electronic commerce. Decis. Support Syst. 1(33):2002;87-103.
14. Whittle P. Arm-acquiring bandits. Ann. Probab. 9(2):1981;284-292