Testing a model of exploration and exploitation as innovation strategies
提出了一个结构模型，将企业增长描述为企业特定参数、市场特定参数和购买力竞争的函数，区分了探索和利用两种创新策略，并通过模拟推导出可检验的假设。
We suggest a structural model that specifies firm growth as a function of firm-specific parameters, market-specific parameters, and competition for purchasing power. The model distinguishes between two firm innovation strategies: exploration and exploitation. On the basis of a set of simulations of this model, we derive a number of empirically testable hypotheses. A subset of these have already found support in the empirical literature. We take these as evidence in favor of the explanatory power of the model. In addition, we are able to derive further testable propositions on the interaction of firm-demographic processes, innovative behavior and market structure that go beyond the existing literature and that we suggest for further research. We conclude that the approach chosen here provides a fruitful pathway for further research.