<p>For the best bet, read the papers by Bergstra et. al. <a href="http://arxiv.org/pdf/1209.5111.pdf" rel="nofollow">1</a> <a href="http://jmlr.org/papers/volume13/bergstra12a/bergstra12a.pdf" rel="nofollow">2</a> and <a href="http://papers.nips.cc/paper/4443-algorithms-for-hyper-parameter-optimization.pdf" rel="nofollow">3</a>. I am not 100% clear on what the bandit_algo is, except that one of the papers mentions it as an alternative method to Gaussian Process and Tree of Parzen Estimators - maybe you can use it in the same way as those two?</p>

<p>My guess is that if it not documented, it may not be finished yet. You can try raising an issue on Github - the devs are fairly responsive from what I have seen.</p>

<p>EDIT: Looking at <a href="http://www.cs.ubc.ca/~hutter/nips2011workshop/papers_and_posters/Bergstra-abstract.pdf" rel="nofollow">this paper</a>, these bandit algorithms may be the base class that the others inherit from.</p>
Hyperopt Exploration/Exploitation strategy
<p>What kind of settings Hyperopt provides to adjust balance between exploration with exploitation ? There's something like "bandit" and "bandit_algo" in the code but no explanation.</p>

<p>Could someone provide any code sample.</p>

<p>Thanks a lot for any help!</p>