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A forwards induction approach to candidate drug selection
Published online by Cambridge University Press: 01 July 2016
Abstract
A forwards induction policy is a type of greedy algorithm for Markov decision processes. It is straightforward to implement and is optimal for a large class of models, especially in stochastic resource allocation. In this paper we consider a model for the optimal allocation of resources in pre-clinical pharmaceutical research. We show that although they are not always strictly optimal, forwards induction policies perform well.
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- General Applied Probability
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- Copyright © Applied Probability Trust 2011
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