A graphical model or probabilistic graphical model (PGM) or structured probabilistic model is a probabilistic model for which a graph expresses the conditional dependence structure between random variables. They are commonly used in probability theory, statistics—particularly Bayesian statistics—and machine learning. (Wikipedia)
Weargue that hedging is an activity that human and machine agents should engage in more broadly, even when the agent's value is not necessarily in monetary units.
Somewhat surprisingly, learning in a Markov Decision Process is most often considered under the performance criteria ofconsistency or regret minimization(see e.g.