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A note on gittins indices for pharmaceutical research
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The Bernoulli/exponential target process is considered. Such processes have been found useful in modelling the search for active compounds in pharmaceutical research. An inequality is presented which improves a result of Gittins (1989), thus providing a better approximation to the Gittins indices which define the optimal search policy.
Title: A note on gittins indices for pharmaceutical research
Description:
The Bernoulli/exponential target process is considered.
Such processes have been found useful in modelling the search for active compounds in pharmaceutical research.
An inequality is presented which improves a result of Gittins (1989), thus providing a better approximation to the Gittins indices which define the optimal search policy.
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