  We study the model of projective simulation (PS), a novel approach to
artificial intelligence based on stochastic processing of episodic memory which
was recently introduced [H.J. Briegel and G. De las Cuevas. Sci. Rep. 2, 400,
(2012)]. Here we provide a detailed analysis of the model and examine its
performance, including its achievable efficiency, its learning times and the
way both properties scale with the problems' dimension. In addition, we situate
the PS agent in different learning scenarios, and study its learning abilities.
A variety of new scenarios are being considered, thereby demonstrating the
model's flexibility. Furthermore, to put the PS scheme in context, we compare
its performance with those of Q-learning and learning classifier systems, two
popular models in the field of reinforcement learning. It is shown that PS is a
competitive artificial intelligence model of unique properties and strengths.
