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Exploration Through Simulation

In: A Theory of Dynamic Preferences

Author

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  • Christo A. Pirinsky

    (University of Central Florida, Business Administration and Finance)

Abstract

The exploration of some of the most consequential decisions in life is inherently difficult. We chose our careers, friends, and marriage partners with very limited information and self-knowledge. In all these cases, people could simulate the corresponding experiences to understand better their attitudes towards them. This chapter defines simulations and discusses their implications as an exploration tool. Simulations could be broadly classified into physical, computer-based, and mental depending on whether they are generated in the physical world, a computer, or the mind. When people have limited time to learn about prospective partners, they could also strategically manipulate the social environment to learn more about them. For example, marriage is a social contract that is costly to break. As a result, learning as much about the other person as quickly as possible prior to entering the contract is important. The chapter discusses the existing social norms of dating. It also argues that many conflicts and disagreements in relationships could be strategic because they allow a person to learn about how their prospective partner would behave in challenging situations.

Suggested Citation

  • Christo A. Pirinsky, 2026. "Exploration Through Simulation," Springer Books, in: A Theory of Dynamic Preferences, chapter 7, pages 111-126, Springer.
    • Handle: RePEc:spr:sprchp:978-3-032-13334-2_7
    DOI: 10.1007/978-3-032-13334-2_7
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