Year: 2023
Type: article
Abstract: In this paper, we introduce an innovative approach to handling the multi-armed bandit (MAB) problem in non-stationary environments, harnessing the predictive power of large language models (LLMs). With the realization that traditional bandit strategies, including epsilon-greedy and upper confidence bound (UCB), may struggle in the face of dynamic changes, we propose a strategy informed by LLMs that offers dynamic guidance on exploration versus exploitation, contingent on the current state of the bandits. We bring forward a new non-stationary bandit model with fluctuating reward distributions and illustrate how LLMs can be employed to guide the choice of bandit amid this variability. Experimental outcomes illustrate the potential of our LLM-informed strategy, demonstrating its adaptability to the fluctuating nature of the bandit problem, while maintaining competitive performance against conventional strategies. This study provides key insights into the capabilities of LLMs in enhancing decision-making processes in dynamic and uncertain scenarios.
Source: Electronics
Language: English
Field: Decision Sciences
Domain: Social Sciences
Open Access status: gold
Estimated APC paid: $2,224
OpenAlex ID: W4382136016