Exploration and exploitation strategies. What kind of analytical models?

Stratégies d'exploration et exploitation. Quel modèle analytique ?

Nadia Jacoby ()
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Nadia Jacoby: MATISSE - UMR 8595 - Modélisation Appliquée, Trajectoires Institutionnelles et Stratégies Socio-Économiques - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique

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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).

Keywords: NK models; exploration and exploitation behaviors; evolutionary approaches of firms; approches évolutionnistes de la firme; exploration; exploitation; modèles NK (search for similar items in EconPapers)
Date: 2005-05
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00194719
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Published in 2005

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