Selten, Reinhard (Born 1930)
Reference work entry
This article describes the main contributions to game theory and boundedly rational economic behaviour of Reinhard Selten, winner, together with John Nash and John Harsanyi, of the Nobel Memorial Prize in Economics in 1994.
KeywordsAsymmetric games Bargaining Bounded rationality Cognitive bounds on rationality Evolutionarily stable strategies Evolutionary game theory Extensive form games Forward induction Game theory and biology Harsanyi, J. C Ideal rationality Imperfect competition Laboratory experimentation Learning Motivational bounds on rationality Nash equilibrium Nash, J Non-cooperative games Oligopoly games Payoff dominance Prisoner’s Dilemma Rationality Risk dominance Selection theory Selten, R Sequential equilibrium Simon, H Stag hunt game Subgame consistency Subgame perfection Tracing procedure Trembling-hand perfection
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