Abstract

A society creates wealth by utilizing its resources and distributing the generated goods. Thus, deciding how to allocate resources into activities is critical for the well-being of a society. One model, the multi-armed bandit problem, is concerned with optimal allocation of resources between competing activities, depending upon the degree of evolution of the activities, in order to generate benefits. In this work, following the objective of a multi-armed bandit problem, we consider a sequential optimal decision making process to collectively select an ensemble of influential projects.

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