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Even though the bias–variance decomposition does not directly apply in reinforcement learning, a similar tradeoff can also characterize generalization. When an agent has limited information on its environment, the suboptimality of an RL algorithm can be decomposed into the sum of two terms: a term related to an asymptotic bias and a term due ...
The bias–variance tradeoff is often used to overcome overfit models. With a large set of explanatory variables that actually have no relation to the dependent variable being predicted, some variables will in general be falsely found to be statistically significant and the researcher may thus retain them in the model, thereby overfitting the ...
In economics a trade-off is expressed in terms of the opportunity cost of a particular choice, which is the loss of the most preferred alternative given up. [2] A tradeoff, then, involves a sacrifice that must be made to obtain a certain product, service, or experience, rather than others that could be made or obtained using the same required resources.
Term Description Examples Autocracy: Autocracy is a system of government in which supreme power (social and political) is concentrated in the hands of one person or polity, whose decisions are subject to neither external legal restraints nor regularized mechanisms of popular control (except perhaps for the implicit threat of a coup d'état or mass insurrection).
Bias is a distinct concept from consistency: consistent estimators converge in probability to the true value of the parameter, but may be biased or unbiased (see bias versus consistency for more). All else being equal, an unbiased estimator is preferable to a biased estimator, although in practice, biased estimators (with generally small bias ...
The government will have to decide which balance of guns versus butter best fulfills its needs, with its choice being partly influenced by the military spending and military stance of potential opponents. Researchers in political economy have viewed the trade-off between military and consumer spending as a useful predictor of election success. [1]
The Williamson tradeoff model is a theoretical model in the economics of industrial organization which emphasizes the tradeoff associated with horizontal mergers between gains resulting from lower costs of production and the losses associated with higher prices due to greater degree of monopoly power.
In Section 2.1, for example, we calculate var(Y) as sigma^2. This was confusing to me, because it is independent of the actual underlying distribution of y. But in 2.1, we're not actually calculating the variance of y itself - we're computing the variance of y over the space of all possible models in our class trained on all possible subsets of ...