Exploiting old lessons and exploring new ideas: A Confucian approach to exploitation and exploration

This paper extends James March’s pioneering work on exploitation and exploration with respect to Confucian thought. Contrary to the conventional, rational approach that assume a paradoxical relationship between exploitation and exploration, we suggest the possibility of a mutually beneficial relationship by highlighting some features of Confucian thought based on the ontological, epistemological, and axiological foundations of the Confucian...