Aspiration Adaptation Theory
AbstractAspiration 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
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Bibliographic InfoPaper provided by University of Bonn, Germany in its series Discussion Paper Serie B with number 389.
Date of creation: Oct 1996
Date of revision:
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Aspiration Adaptation; Bounded Rationality;
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- Castellani, Marco & Di Giovinazzo, Viviana & Novarese, Marco, 2010.
"Procedural rationality and happiness,"
Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics),
Elsevier, vol. 39(3), pages 376-383, June.
- Astrid Matthey & Nadja Dwenger, 2008.
"Don’t aim too high: the potential costs of high aspirations,"
SFB 649 Discussion Papers
SFB649DP2008-011, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
- Astrid Matthey & Nadja Dwenger, 2007. "Don't aim too high: the potential costs of high aspirations," Jena Economic Research Papers 2007-097, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.
- Robin Pope & Reinhard Selten & Sebastian Kube & Jürgen von Hagen, 2006. "Experimental Evidence on the Benefits of Eliminating Exchange Rate Uncertainties and Why Expected Utility Theory causes Economists to Miss Them," Labsi Experimental Economics Laboratory University of Siena 010, University of Siena.
- Steffen Huck & Philippe Jehiel, 2004. "Public statistics and private experience : Varying feedback information in a take or pass game," Levine's Bibliography 122247000000000733, UCLA Department of Economics.
- Hermann Brandstätter & Werner Güth & Hartmut Kliemt, . "Philosophical, Psychological and Economic Aspects of Choice Making," Papers on Strategic Interaction 2003-06, Max Planck Institute of Economics, Strategic Interaction Group.
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