Search results
Results from the WOW.Com Content Network
The exploration-exploitation dilemma, also known as the explore-exploit tradeoff, is a fundamental concept in decision-making that arises in many domains. [ 1 ] [ 2 ] It is depicted as the balancing act between two opposing strategies.
The exploitation of natural resources describes using natural resources, often non-renewable or limited, for economic growth [1] or development. [2] Environmental degradation , human insecurity, and social conflict frequently accompany natural resource exploitation.
Gupta conducted research on the interplay between exploration and exploitation and started his study from the premise that exploration and exploitation have emerged as the twin concepts underpinning organizational adaptation research. His study addressed four questions: What do exploration and exploitation mean?
Instead, the focus is on finding a balance between exploration (of uncharted territory) and exploitation (of current knowledge) with the goal of maximizing the cumulative reward (the feedback of which might be incomplete or delayed). [1] The search for this balance is known as the exploration-exploitation dilemma.
Thompson sampling, [1] [2] [3] named after William R. Thompson, is a heuristic for choosing actions that address the exploration-exploitation dilemma in the multi-armed bandit problem. It consists of choosing the action that maximizes the expected reward with respect to a randomly drawn belief.
Surface gold mine with haul truck in foreground, in Kalgoorlie, Australia. Mining in the engineering discipline is the extraction of minerals from the ground. Mining engineering is associated with many other disciplines, such as mineral processing, exploration, excavation, geology, metallurgy, geotechnical engineering and surveying.
In northern Peru, the World Bank's business-lending arm is part owner of the Yanacocha gold mine, accused by impoverished farming communities of despoiling their land in pursuit of the precious ore. The bank and IFC have stepped up investments in projects deemed to have a high risk of serious and environment damage, including oil pipelines, mines and even coal-fired power plants, an ...
Exploration is the process of exploring, an activity which has some expectation of discovery.Organised exploration is largely a human activity, but exploratory activity is common to most organisms capable of directed locomotion and the ability to learn, and has been described in, amongst others, social insects foraging behaviour, where feedback from returning individuals affects the activity ...