Selten
contemporaryGame Theory / Behavioral Economics1930 – 2016
Reinhard Selten was a German economist and mathematician who shared the 1994 Nobel Memorial Prize in Economic Sciences with John Nash and John Harsanyi for their pioneering analysis of equilibria in non-cooperative game theory. He is best known for introducing the concept of subgame perfect equilibrium, which refined Nash equilibrium for sequential games, and for his extensive experimental work in behavioral economics.
Notable Achievements
1
Introduced the concept of subgame perfect equilibrium (1965)
2
Co-recipient of the 1994 Nobel Memorial Prize in Economic Sciences
3
Developed the trembling hand perfect equilibrium concept
4
Pioneered experimental economics and bounded rationality research in Germany
5
Co-founded the journal Experimental Economics