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Fast learning and sustained exploration: The role of timely performance feedback
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DOI：10.1002/smj.70098.png)
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Abstract
En 中文
How should organizations manage learning dynamics? Strategy theories suggest “more-is-better”—fast, frictionless sharing enhances performance—while organizational learning theory warns that “less-is-more,” as fast learning causes premature convergence. We reconcile this tension by showing that the “less-is-more” prediction depends critically on a key assumption in classic computational models: that information about agents' performance is not continuously updated. When performance information is timely, fast learning enhances exploration. The mechanism is Target Diversity: fast learning allows many individuals to rapidly reach the performance frontier, increasing the set of imitation targets. Organizations thus learn from a diverse, shifting set of targets. The implication is that organizations achieve superior performance not by restricting information or slowing learning, but by making data on choices and performance available more quickly.
Keywords:
diversity
exploration and exploitation
mutual learning
organizational design
slow learning
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