TransWikia.com

What is the generalization of the resource allocation problem I'm dealing with here?

Computational Science Asked by winterwyvern on September 25, 2021

I’m dealing with a problem as follows:

I have a finite set of money ? to spend over ? different raffles, and I need to spend approximately to my budget, with the goal of maximizing my probability of my total winnings across all raffles being a constant ?. Each raffle has a different prize amount ?, and there is a certain amount of time ? between now and when the raffle winner is drawn, and at each interval a random number of people ?? enter each raffle(which I have perfect information of), and a random number of people refund their raffle ticket ??. So, the probability I win each raffle can go up or down each temporal period. I start the scenario with a differing number of raffle tickets in each game, and I have a defined value function for each raffle so I know the increase I get in probability of winning the raffle based on the amount of money I spend buying raffle tickets for it.

I’ve looked into multi-armed bandit problems and knapsack problems but I don’t feel the problem perfectly fits into either bucket. Are there multiple problems at hand here, and that’s why it doesn’t appear to fit into any of those categories?

Add your own answers!

Ask a Question

Get help from others!

© 2024 TransWikia.com. All rights reserved. Sites we Love: PCI Database, UKBizDB, Menu Kuliner, Sharing RPP