PPO in the Fisher-Rao geometry

Proximal Policy Optimization (PPO) is widely used in reinforcement learning due to its strong empirical performance, yet it lacks formal guarantees for policy improvement and convergence. PPO's clipped surrogate objective is motivated by a lower bound on linearization of the value function in flat geometry setting. We derive a tighter surrogate objective and introduce Fisher-Rao PPO (FR-PPO) by leveraging the Fisher-Rao (FR) geometry. Our scheme provides strong theoretical guarantees, including monotonic policy improvement. In the direct parametrization setting, we show that FR-PPO achieves sub-linear convergence, and for parametrized policies we further obtain sub-linear convergence up to the compatible function approximation error. Finally, although our primary focus is theoretical, we also demonstrate empirically that FR-PPO performs well across a range of standard reinforcement learning tasks.