This study introduces a fund recommendation system based on the ϵ-greedy algorithm and an incremental learning framework. This model simulates the interaction process when customers browse the web-pages of fund products. Customers click on their preferred fund products when visiting a fund recommendation web-page. The system collects customer click sequences to continually estimate and update their utility function. The system generates product lists using the ϵ-greedy algorithm, where each product on the list has the probability of 1-ϵ of being selected as an exploitation strategy, and the probability of ϵ is chosen as the exploration strategy. We perform a series of numerical tests to evaluate the estimation performance with different values of ϵ.
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