Episode 001: Base Rates and Bees with Michael Mauboussin
The Decision Education Podcast
00:00
Exploiting Versus Exploitation
Bell: How do you think about when to shift from an explorer to an exploit a strategy? And it can be in your work, or in your o your advising clients, or howe you want to go at that. Bell: When the environment does not change rapidly, the ants go for mostly exploitation and very exploration. The rate of change in the environment is ultimately so zero change in the menand by the way, if you go to eco systems in our world to day, almost all those species are all about exploitation. They do very little exploration. You'll find other other eco systems that are rapidly changing too.
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