Reinhard Selten
Encyclopedia
Life and career
Selten was born in Breslau (Wrocław) in Lower SilesiaProvince of Lower Silesia
The Province of Lower Silesia was a province of the Free State of Prussia from 1919 to 1945. Between 1938 and 1941 it was reunited with Upper Silesia as the Silesia Province. The capital of Lower Silesia was Breslau...
, now in Poland
Poland
Poland , officially the Republic of Poland , is a country in Central Europe bordered by Germany to the west; the Czech Republic and Slovakia to the south; Ukraine, Belarus and Lithuania to the east; and the Baltic Sea and Kaliningrad Oblast, a Russian exclave, to the north...
, to a Jewish father, Adolf Selten, and Protestant mother, Käthe Luther. For his work in game theory
Game theory
Game theory is a mathematical method for analyzing calculated circumstances, such as in games, where a person’s success is based upon the choices of others...
, Selten won the 1994 Nobel Memorial Prize in Economic Sciences
Nobel Memorial Prize in Economic Sciences
The Nobel Memorial Prize in Economic Sciences, commonly referred to as the Nobel Prize in Economics, but officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel , is an award for outstanding contributions to the field of economics, generally regarded as one of the...
(shared with John Harsanyi
John Harsanyi
John Charles Harsanyi was a Hungarian-Australian-American economist and Nobel Memorial Prize in Economic Sciences winner....
and John Nash
John Forbes Nash
John Forbes Nash, Jr. is an American mathematician whose works in game theory, differential geometry, and partial differential equations have provided insight into the forces that govern chance and events inside complex systems in daily life...
). He is also well known for his work in bounded rationality
Bounded rationality
Bounded rationality is the idea that in decision making, rationality of individuals is limited by the information they have, the cognitive limitations of their minds, and the finite amount of time they have to make a decision...
, and can be considered as one of the founding fathers of experimental economics
Experimental economics
Experimental economics is the application of experimental methods to study economic questions. Data collected in experiments are used to estimate effect size, test the validity of economic theories, and illuminate market mechanisms. Economic experiments usually use cash to motivate subjects, in...
. He developed an example of a game called Selten's Horse because of its extensive form representation. He is noted for his publishing in non-refereed journals to avoid being forced to make unwanted changes to his work.
Selten is professor emeritus at the University of Bonn
University of Bonn
The University of Bonn is a public research university located in Bonn, Germany. Founded in its present form in 1818, as the linear successor of earlier academic institutions, the University of Bonn is today one of the leading universities in Germany. The University of Bonn offers a large number...
, Germany, and holds several honorary doctoral degrees. He has been an Esperantist
Esperantist
An Esperantist is a person who speaks or uses Esperanto. Etymologically, an Esperantist is someone who hopes...
since 1959., and met his wife through the Esperanto movement. He is a member and co-founder of the International Academy of Sciences San Marino
Akademio Internacia de la Sciencoj San Marino
The Akademio Internacia de la Sciencoj San Marino is a scientific association. It was established in 1983 and had its first convention, SUS 1, around New Year 1984 at San Marino City. After the Sammarinese skeleton law on higher education had been passed the academy was officially founded on...
.
For the European Parliament election, 2009
European Parliament election, 2009
Elections to the European Parliament were held in the 27 member states of the European Union between 4 and 7 June 2009. A total of 736 Members of the European Parliament were elected to represent some 500 million Europeans, making these the biggest trans-national elections in history...
, he was the top candidate for the German wing of Europe – Democracy – Esperanto.
See also
- List of economists
- Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel
- Subgame perfect Nash equilibrium