In his most recent book, Daniel Levinthal develops a theory of strategy and organization centred around a "Mendelian executive" who consciously seeks new strategic opportunities but is constrained by path dependence to search in spaces adjacent to the current state of affairs. Building upon this intuition, we present a simple model of exploration and exploitation in complex landscapes showing that path dependence modifies the usual predictions of arm bandit models, especially when agents search in complex spaces where correlation of performance among adjacent alternative is low.

Mendelian explorations / Marengo, Luigi; Settepanella, S; Valente, M. - In: JOURNAL OF ORGANIZATION DESIGN. - ISSN 2245-408X. - 12:3(2023), pp. 157-163. [10.1007/s41469-023-00136-y]

Mendelian explorations

Marengo, L;
2023

Abstract

In his most recent book, Daniel Levinthal develops a theory of strategy and organization centred around a "Mendelian executive" who consciously seeks new strategic opportunities but is constrained by path dependence to search in spaces adjacent to the current state of affairs. Building upon this intuition, we present a simple model of exploration and exploitation in complex landscapes showing that path dependence modifies the usual predictions of arm bandit models, especially when agents search in complex spaces where correlation of performance among adjacent alternative is low.
2023
Exploration vs exploitation, Search processes, NK fitness landscapes
Mendelian explorations / Marengo, Luigi; Settepanella, S; Valente, M. - In: JOURNAL OF ORGANIZATION DESIGN. - ISSN 2245-408X. - 12:3(2023), pp. 157-163. [10.1007/s41469-023-00136-y]
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11385/234620
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