2011
DOI: 10.18564/jasss.1798
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Group-Level Exploration and Exploitation: A Computer Simulation-Based Analysis

Abstract: Organisational research has studied the tension between exploration and exploitation for years. In essence, this body of research agrees on the necessity of a balance between explorative and exploitative processes to prevent an organisation from falling into a learning trap. Thus, to enhance the active management of this balance in organisations, a deeper theoretical understanding of the factors that influence the development of exploration and exploitation has to be gained. One of the recently discussed facto… Show more

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Cited by 15 publications
(10 citation statements)
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“…The literature on knowledge diffusion assumes that that all actors in a network follow the same logic while exchanging knowledge: (a) they seek knowledge when they lack it and (b) they share knowledge if they possess the acquired knowledge (e.g. March, ; Miller et al, ; Kane & Alavi, ; Liao & Wang, ; Kunz, ). Thus, individuals are assumed to be homogeneous in their tendency to share and seek knowledge.…”
Section: Theoretical Developmentmentioning
confidence: 99%
“…The literature on knowledge diffusion assumes that that all actors in a network follow the same logic while exchanging knowledge: (a) they seek knowledge when they lack it and (b) they share knowledge if they possess the acquired knowledge (e.g. March, ; Miller et al, ; Kane & Alavi, ; Liao & Wang, ; Kunz, ). Thus, individuals are assumed to be homogeneous in their tendency to share and seek knowledge.…”
Section: Theoretical Developmentmentioning
confidence: 99%
“…Vessels maximize utility using either: (a) an “explore‐exploit” (EE) algorithm, where each vessel picks a spot to fish randomly in the first period, and then in subsequent periods either picks the most lucrative previous spot (i.e., exploit) or, with some probability, picks a new fishing spot randomly (i.e., explore); or (b) an “explore‐exploit‐imitate” (EEI) algorithm, which is similar to EE except exploiting vessels also have information about the locations and profits of other vessels in the fleet when choosing the best spot (i.e., imitate; see Bailey et al, ; Carrella, ; Carrella et al, for full details). Explore‐exploit models are commonly used in the literature on foraging and environmental management to represent human decision‐making (Berger‐Tal, Nathan, Meron, & Saltz, ; He, Luo, Tan, Wu, & Fan, ; Kunz, ; Roberts & Goldstone, ). Indeed, Carrella et al () compare several possible algorithms in POSEIDON, finding a trade‐off between flexibility and optimization performance, but finding EEI to be among the best on both metrics.…”
Section: Poseidon Modelmentioning
confidence: 99%
“…The task objective was embodied as a binary character string which consisted of 100 positions c k with k∈{1, …, 100} and c k =1∀ k (Kunz, 2011). At the beginning of each simulation, every team member was randomly assigned a knowledge unit, that is, a string of the same length as the task objective with 0 or 1 in each position, and evaluated for the relevance of expertise according to how closely the string matches the objective.…”
Section: Agent‐based Simulationmentioning
confidence: 99%