Explore-exploit tradeoff

The explore-exploit tradeoff (or exploration-exploitation trade-off) is the choice between seeking new information ("explore") orand acting on the information already available ("exploit").

The explore-exploit tradeoff (or exploration-exploitation trade-off) is the tradeoff we facechoice between seeking new information versus("explore") or acting on the information we already have.available ("exploit").

Kuhn, Ben (2013) Exploration and exploitation, Ben Kuhn’s Blog, June.

Conceptually (n.d.)(2018) Explore-exploit tradeoff, Conceptually. 

Related entries

value of information

The explore-exploit tradeoff is the tradeoff we face between seeking new information versus acting on the information we already have.

Further reading

Conceptually (n.d.) Explore-exploit tradeoff, Conceptually.