In a complex environment knowledge is valuable and its acquisition is costly; as a result people are careful about what to learn and how to learn it. We suggest that the dynamics of the “local” environment strongly influences the method that individuals choose to acquire useful knowledge and...

The catch of cod in Norway is processed into a variety of final products, most of which are exported. The main product categories are salted, dried and frozen products. Most processors have some choice as to which type of product to produce. Our hypothesis is that the choice of product type is...