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The Exploring Human

In: A Theory of Dynamic Preferences

Author

Listed:
  • Christo A. Pirinsky

    (University of Central Florida, Business Administration and Finance)

Abstract

Building on recent advances in biology, neuroscience, and psychology, this book develops а behavioral framework centered around the important role of exploration and self-discovery. This chapter summarizes how the exploration-centered view on individual behavior could provide insights into numerous phenomena, such as biased perceptions, inconsistent preferences, irrational behavior, economic (hyper)activity, the nature-versus-nurture debate, and free will. When exploration is exogenously fixed, individual choices could be reduced to a static utility function. Such situation would naturally emerge when the environment is relatively simple and stable. In this case, primary preferences would stabilize over time toward an optimal level. However, when the environment changes unpredictably, exploration becomes an important factor for survival.

Suggested Citation

  • Christo A. Pirinsky, 2026. "The Exploring Human," Springer Books, in: A Theory of Dynamic Preferences, chapter 13, pages 183-193, Springer.
    • Handle: RePEc:spr:sprchp:978-3-032-13334-2_13
    DOI: 10.1007/978-3-032-13334-2_13
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