Exploration and exploitation revisited: Extending March's model of mutual learning

    Scandinavian Journal of Management, pp. 407-428, 2005.

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    Keywords:
    organizational learningsimulationexploration

    Abstract:

    Abstract A system of actors, appropriately organized, is able to learn even in situations where individuals in isolation cannot. This was one of the most important, though seldom emphasized, insights of March’s paper [March, J. G. (1991). Exploration and exploitation in organizational learning. Organization Science, 2(1), 71–87]. The pres...More

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