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Explore-exploit tradeoff - Definition and examples — Conceptually

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When should you try something new, or stick with what you already know and like?

Explore-exploit tradeoff - Definition and examples - Conceptually Conceptually Explore-exploit tradeoff When should you try something new, or stick with what you already know and like? What is the explore-exploit tradeoff? Definition and explanation The exploration, exploitation trade-off is a dilemma we frequently face in choosing between options. Should you choose what you know and get something close to what you expect (‘exploit’) or choose something you aren’t sure about and possibly learn more (‘explore’)? This happens all the time in everyday life — favourite restaurant, or the new one?;

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