Exploration and Exploitation
While traditionally processes of exploration and exploitation have been understood with respect to the novelty of the associated behavior and the a priori beliefs of the promise of these behaviors, the perspective developed here highlights the possible contestation regarding the merit and promise of a given action or initiative. An action may be viewed as exploratory from an observer’s perspective, while that same action may be considered exploitive from the perspective of the focal actor. The argument highlights the alternative beliefs and cognitive schemas by which promising behaviors and initiatives are evaluated. Validating actions to others, either ex ante or ex post, requires either the validation of particular dimensions of performance or the casting of “shadows” on the dimension of performance valued by others.