Template-Type:ReDIF-Paper 1.0  
Title: Aspiration Adaptation Theory
Author-Name: Selten, Reinhard
Classification-JEL:D21
Keywords:Aspiration Adaptation, Bounded Rationality 
Abstract: Aspiration adaptation theory (Sauermann and Selten, 1962), not available in English up to now, is a
	general model of non-optimizing boundedly rational behavior. The theory is presented in a more formal
	fashion than in the original paper. Moreover, the presentation is complemented by remarks on decision
	resources as goal variables and the way in which aspiration adaptation copes with uncertainty by risk-related
	goal variables. Finally, possible modifications in the light of experimental evidence are discusse
Length: pages
Creation-Date: 1996-10
Revision-Date: 
Handle: RePEc:bon:bonsfb:389