Aspiration Adaptation Theory.

Aspiration adaptation theory, not available in English up to now, is a general model of nonoptimizing 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 discussed. Copyright 1998 Academic Press.