Behavioral (e.g. consumption) patterns of boundedly rational agents can lead these agents into learning dynamics that appear to be "wasteful" in terms of well-being or welfare. Within settings displaying preference endogeneity, it is however still unclear how to conceptualize well-being. This...

The purpose of this study is to identify themotivations that drive the agent's search for technologicalnovelty.First, a hypothesis on a concrete human want and its motivationalimplications is presented.According to this hypothesis, there is a basichuman desire to avoid physical effort beyond a...