{'fraction_non_alphanumeric': 0.023480662983425413, 'fraction_numerical': 0.011049723756906077, 'mean_word_length': 5.1440677966101696, 'pattern_counts': {'":': 0, '<': 0, '<?xml version=': 0, '>': 0, 'https://': 0, 'lorem ipsum': 0, 'www.': 0, 'xml': 0}, 'pii_count': 0, 'substrings_counts': 0, 'word_list_counts': {'cursed_substrings.json': 0, 'profanity_word_list.json': 0, 'sexual_word_list.json': 0, 'zh_pornsignals.json': 0}}
Semi-normative theories of bounded rationality – back to German roots

Abstract The ascent of behavioral economics suggests reviving bounded rationality models that have so far been sidelined in neo-classical economics. Applications of aspiration-based satisficing to negotiations are a case in point. Background, core ideas and theoretical components of so-called Dynamic Aspiration Balance Theory (DABT) are re-introduced to show that DABT can account for bargaining behavior in terms of what has become known as fast and frugal heuristics. A revival of interest in so-called (semi-) normative theories that can be traced back to forerunners from the 1970s and 1980s may open up promising perspectives for future research.