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Exploration and exploitation strategies. What kind of analytical models ?

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  • Nadia Jacoby

    ()
    (MATISSE)

Abstract

This 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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File URL: ftp://mse.univ-paris1.fr/pub/mse/cahiers2005/R05040.pdf
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Bibliographic Info

Paper provided by Université Panthéon-Sorbonne (Paris 1) in its series Cahiers de la Maison des Sciences Economiques with number r05040.

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Length: 13 pages
Date of creation: May 2005
Date of revision:
Handle: RePEc:mse:wpsorb:r05040

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Keywords: Evolutionary approaches of firms; exploration and exploitation behaviors; NK models;

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  1. Abernathy, William J. & Clark, Kim B., 1985. "Innovation: Mapping the winds of creative destruction," Research Policy, Elsevier, vol. 14(1), pages 3-22, February.
  2. Koen Frenken & Luigi Marengo & Marco Valente, 1999. "Interdependencies, nearly-decomposability and adaption," CEEL Working Papers 9903, Cognitive and Experimental Economics Laboratory, Department of Economics, University of Trento, Italia.
  3. Marengo, Luigi, et al, 2000. "The Structure of Problem-Solving Knowledge and the Structure of Organizations," Industrial and Corporate Change, Oxford University Press, vol. 9(4), pages 757-88, December.
  4. Marco Valente, 1998. "Laboratory for Simulation Development," DRUID Working Papers 98-5, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
  5. Aoki, Masahiko, 1986. "Horizontal vs. Vertical Information Structure of the Firm," American Economic Review, American Economic Association, vol. 76(5), pages 971-83, December.
  6. D. Teece & S. Winter & G. Dosi, 1990. "Les frontières des entreprises : vers une théorie de la cohérence de la grande entreprise," Revue d'Économie Industrielle, Programme National Persée, vol. 51(1), pages 238-254.
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