Physical Sciences and Mathematics Commons^™

Towards A Physio-Cognitive Model Of The Exploration Exploitation Trade-Off., David M. Schwartz, Christopher L. Dancy

Faculty Conference Papers and Presentations

Managing the exploration vs exploitation trade-off is an important part of our everyday lives. It occurs in minor decisions such as choosing what music to listen to as well as major decisions, such as picking a research direction to pursue. The dilemma is the same despite the context: does one exploit the environment, using current knowledge to acquire a satisfactory solution, or explore other options and potentially find a better answer. An accurate cognitive model must be able to handle this trade-off because of the importance it plays in our lives. We are developing physio-cognitive models to better understand how …