Exploration and exploitation strategies. What kind of analytical models ?
AbstractThis paper gives some insights related to the combination of exploration and exploitation behaviors. A recurrent question for firms deals with this blend of exploration and exploitation mechanisms. Firms are engaged in new activities like research and at the same time in more routine ones like development and production. Thus, they should find a satisfying arrangement between exploitation. But in order to do that, they should better understand their working. This paper analyzes adaptive systems through exploration and exploitation behaviors of firms. In order to better understand the temporal articulation of those behaviors, we refer to a mapping representation of search processes using NK models (Kauffman, 1993).
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Date of creation: May 2005
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Evolutionary approaches of firms; exploration and exploitation behaviors; NK models.;
Other versions of this item:
- Nadia Jacoby, 2005. "Exploration and exploitation strategies. What kind of analytical models ?," Cahiers de la Maison des Sciences Economiques r05040, Université Panthéon-Sorbonne (Paris 1).
- C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
- L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
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