Chasing a Moving Target: Exploitation and Exploration in Dynamic Environments

306 citations recorded by the source corpus.

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

Organizational Structure, Information Processing, and Decision-Making: A Retrospective and Road Map for Research (2020, background): “Scholars in this domain view organizations as adaptive systems (Denrell & March, 2001; Posen & Levinthal, 2012); thus, firms adapt via experiential, trial-and-error, and/ or reinforcement learning—as indicated by their updated actions in response to performance feedback.”
Dynamic Balancing of Exploration and Exploitation: The Contingent Benefits of Ambidexterity (2018, methodology): “This dynamic perspective on ambidexterity as a capability-building process is an alternative to prior formal models of exploration and exploitation that describe a sequential process with repeated adaptations (Posen and Levinthal 2012).”
Modelling Bounded Rationality in Organizations: Progress and Prospects† (2015, methodology): “For instance, an important paper that has analysed the location of the optimal level of exploration as a function of turbulence in the task environment is Posen and Levinthal (2012).”
Revisiting James March (1991): Whither exploration and exploitation? (2018, background): “In fact, with few exceptions (e.g. Posen and Levinthal, 2012), scholars have not extended the simulation model introduced by March, which was central to his original article.”