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We study whether a risk-sensitive objective from asset-pricing theory -- recursive utility -- improves reinforcement learning for portfolio allocation. The Bellman equation under recursive utility involves a certainty equivalent (CE) of…

General Finance · Quantitative Finance 2026-03-25 Minkey Chang

Recently, there has been a surge in interest in safe and robust techniques within reinforcement learning (RL). Current notions of risk in RL fail to capture the potential for systemic failures such as abrupt stoppages from system failures…

Systems and Control · Computer Science 2019-10-09 David Mguni

As Large Language Models (LLMs) continue to progress toward more advanced forms of intelligence, Reinforcement Learning from Human Feedback (RLHF) is increasingly seen as a key pathway toward achieving Artificial General Intelligence (AGI).…

Machine Learning · Computer Science 2024-10-17 Yuzi Yan , Xingzhou Lou , Jialian Li , Yiping Zhang , Jian Xie , Chao Yu , Yu Wang , Dong Yan , Yuan Shen

Robust reinforcement learning (RL) under the average-reward criterion is essential for long-term decision-making, particularly when the environment may differ from its specification. However, a significant gap exists in understanding the…

Machine Learning · Computer Science 2025-09-26 Zachary Roch , Chi Zhang , George Atia , Yue Wang

This paper concerns the central issues of model robustness and sample efficiency in offline reinforcement learning (RL), which aims to learn to perform decision making from history data without active exploration. Due to uncertainties and…

Machine Learning · Computer Science 2024-01-01 Laixi Shi , Yuejie Chi

Policy gradient methods are an appealing approach in reinforcement learning because they directly optimize the cumulative reward and can straightforwardly be used with nonlinear function approximators such as neural networks. The two main…

Machine Learning · Computer Science 2018-10-23 John Schulman , Philipp Moritz , Sergey Levine , Michael Jordan , Pieter Abbeel

Reinforcement learning (RL) algorithms still suffer from high sample complexity despite outstanding recent successes. The need for intensive interactions with the environment is especially observed in many widely popular policy gradient…

Machine Learning · Computer Science 2020-08-04 Samuele Tosatto , Joao Carvalho , Hany Abdulsamad , Jan Peters

We explore why many recently proposed robust estimation problems are efficiently solvable, even though the underlying optimization problems are non-convex. We study the loss landscape of these robust estimation problems, and identify the…

Machine Learning · Statistics 2020-05-29 Banghua Zhu , Jiantao Jiao , Jacob Steinhardt

Polynomial regression is a recurrent problem with a large number of applications. In computer vision it often appears in motion analysis. Whatever the application, standard methods for regression of polynomial models tend to deliver biased…

Computer Vision and Pattern Recognition · Computer Science 2018-05-24 Juan-Manuel Perez-Rua , Tomas Crivelli , Patrick Bouthemy , Patrick Perez

Bandit and reinforcement learning (RL) problems can often be framed as optimization problems where the goal is to maximize average performance while having access only to stochastic estimates of the true gradient. Traditionally, stochastic…

Machine Learning · Computer Science 2021-02-22 Wesley Chung , Valentin Thomas , Marlos C. Machado , Nicolas Le Roux

We propose policy gradient algorithms for solving a risk-sensitive reinforcement learning (RL) problem in on-policy as well as off-policy settings. We consider episodic Markov decision processes, and model the risk using the broad class of…

Machine Learning · Computer Science 2024-06-25 Nithia Vijayan , Prashanth L. A

In this paper we argue for the fundamental importance of the value distribution: the distribution of the random return received by a reinforcement learning agent. This is in contrast to the common approach to reinforcement learning which…

Machine Learning · Computer Science 2017-07-24 Marc G. Bellemare , Will Dabney , Rémi Munos

Learning a predictive model of the mean return, or value function, plays a critical role in many reinforcement learning algorithms. Distributional reinforcement learning (DRL) has been shown to improve performance by modeling the value…

Machine Learning · Computer Science 2025-07-08 Ju-Seung Byun , Andrew Perrault

This paper proposes a novel formulation for reinforcement learning (RL) with large language models, explaining why and under what conditions the true sequence-level reward can be optimized via a surrogate token-level objective in policy…

Machine Learning · Computer Science 2025-12-04 Chujie Zheng , Kai Dang , Bowen Yu , Mingze Li , Huiqiang Jiang , Junrong Lin , Yuqiong Liu , Hao Lin , Chencan Wu , Feng Hu , An Yang , Jingren Zhou , Junyang Lin

While the traditional formulation of machine learning tasks is in terms of performance on average, in practice we are often interested in how well a trained model performs on rare or difficult data points at test time. To achieve more…

Machine Learning · Computer Science 2025-12-29 Matthew J. Holland , Toma Hamada

This paper proposes an adaptive penalized weighted mean regression for outlier detection of high-dimensional data. In comparison to existing approaches based on the mean shift model, the proposed estimators demonstrate robustness against…

Statistics Theory · Mathematics 2023-06-27 Jiaqi Li , Linglong Kong , Bei Jiang , Wei Tu

Envisioned application areas for reinforcement learning (RL) include autonomous driving, precision agriculture, and finance, which all require RL agents to make decisions in the real world. A significant challenge hindering the adoption of…

Machine Learning · Computer Science 2025-01-20 Dominik Baumann , Erfaun Noorani , James Price , Ole Peters , Colm Connaughton , Thomas B. Schön

In offline reinforcement learning, in-sample learning methods have been widely used to prevent performance degradation caused by evaluating out-of-distribution actions from the dataset. Extreme Q-learning (XQL) employs a loss function based…

Machine Learning · Computer Science 2025-02-12 Motoki Omura , Takayuki Osa , Yusuke Mukuta , Tatsuya Harada

We propose a novel algorithmic framework for distributional reinforcement learning, based on learning finite-dimensional mean embeddings of return distributions. We derive several new algorithms for dynamic programming and…

The empirical success of distributional reinforcement learning (RL) highly relies on the choice of distribution divergence equipped with an appropriate distribution representation. In this paper, we propose \textit{Sinkhorn distributional…

Machine Learning · Computer Science 2024-10-16 Ke Sun , Yingnan Zhao , Wulong Liu , Bei Jiang , Linglong Kong