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On finite memory solutions to the two-armed bandit problem (Corresp.)

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2 Author(s)

The least upper bound on the asymptotic proportion of the choice of the correct coin, achievable by {em expedient} finite-memory algorithms in certain two-armed bandit problems, is derived and schemes which achieve these bounds in a limiting sense are displayed. A deterministic automaton whose performance is close to optimal is also presented.

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Information Theory, IEEE Transactions on  (Volume:24 ,  Issue: 2 )