By GrowthGiant on June 25th, 2012 The Multi-Armed Bandit theory is a concept that originates from a problem solving theory developed by Robbins in the 1950s. He explained his theory with gamblers who were presented with a row of slot machines. It’s a gambler’s goal in this instance to minimize their “regret”, with “regret” being the total payout minus the largest payout that would have been received f…

4 minute read Continue Reading