Understanding managers' trade-offs between exploration and exploitation
A Ferecatu, A De Bruyn - Marketing Science, 2022 - pubsonline.informs.org
Managers frequently explore new strategies, and exploit familiar ones, when making
decisions on new product development, pricing, or advertising. Exploring for too long, or …
decisions on new product development, pricing, or advertising. Exploring for too long, or …
INVESTIGATING THE MECHANISM OF THE INITIAL BELIEF EFFECT IN THE LEARNING PROCESS: A SIMULATION STUDY USING THE MULTI-ARMED BANDIT …
J Lee - Journal of Management Information & Decision …, 2022 - sdbindex.com
In the multi-armed bandit model to determine an optimal balance between exploration and
exploitation, changing initial belief from the average success probability of alternatives might …
exploitation, changing initial belief from the average success probability of alternatives might …