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Are You An Explorer or Exploiter?

In uncertain times, are you better off exploring new opportunities or exploiting existing opportunities? Before answering this question, consider this analysis of nearly 2,500 fishing expeditions. In this two-year study, researchers Shay O’Farell, James Sanchirico, and Orr Spiegel analyzed the fishing behaviors of 2,494 commercial fishing trips. The researchers analyzed the tradeoffs between “exploiting” the… Read More 

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