Abstract:Many firms want to target their customers with a sequence of marketing actions, rather than just a single action. we interpret sequential targeting problems as a Markov Decision Process (MDP), which can be solved using a range of Reinforcement Learning (RL) algorithms. MDPs require the construction of Markov state spaces. These state spaces summarize the current information about each customer in each time period, so that movements over time between Markov states describe customers' dynamic paths. The Markov p… Show more
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