The explore/exploit trade-off refers to the balance between sticking with what is known and trying something new and risky. The effectiveness of this approach depends on the time available for decision-making. For instance, people are more likely to choose their favorite restaurant on their last night in town rather than trying something new. This concept is often used in decision-making algorithms, such as the 37% rule, where 37% of the time is dedicated to exploration (research) before committing to the next best choice found.
Can computer science teach us the secrets of life? Perhaps not, but they can shed light on how certa...
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