1994
Reinhard Selten
Picture
(1930 - 2016)
Nationality
German
Area of specialisation
Game theory
Price Motivation
For his pioneering analysis of equilibrium in the theory of non cooperative games
Affiliation at the time of Award
University of Bonn
CONTRIBUTION
Refined the Nash equilibrium concept for analysing dynamic strategy interaction by getting rid of unlikely equilibrium. He also applied the refined concept to analyses of oligopolistic competition
PUBLICATIONS
1 General equilibrium with price making firms (1974) 2 A general theory of equilibrium selection in games (1988) 3 The agencies method for coalition formation in experimental games (2012) 4 How Werner Goth’s Ultimatum Game shaped our understanding of social behaviour (2014)