A method for adaptively allocating resources to a plurality of jobs. The method comprises selecting a first policy from a plurality of policies for a first job in the plurality of jobs by using a policy selection mechanism, allocating at least one resource to the first job in accordance with the first policy, and in response to completion of the first job, updating the policy selection mechanism to obtain an updated policy selection mechanism by using at least one processor. Updating the policy selection mechanism comprises evaluating the performance of the first policy with respect to the first job by calculating a value of a metric of utility for the first policy based on conditions associated with execution of the first job and updating the policy selection mechanism based on the calculated value and a delay of execution of the first job.