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Reinhard Selten, Game Theorist Who Won Nobel Prize, Dies at 85

See on Scoop.itBounded Rationality and Beyond

Reinhard Selten, the German economist and mathematician who won the 1994 Nobel Prize for his work on game theory, has died. He was 85. Selten died on Aug. 23 in the Polish city of Poznan, according to a statement Thursday by the University of Bonn, where he was until recently still active in research. Reinhard Selten Reinhard Selten Soruce: ullstein bild via Getty Images Germany’s only Nobel laureate in the field of economic sciences, Selten shared the prize with John F. Nash Jr. of Princeton University and John C. Harsanyi of the University of California, Berkeley, both of whom developed concepts to explain human behavior through game theory. Applied to fields as diverse as international relations, business-negotiation standoffs and biology, game theory attempts to predict human action based on the conflicting strategies of different parties. The academic study focuses largely on experimental methodology that requires participants to respond to various sets of circumstances in real-world situations, such as wars and political stalemates. “Predicting human actions is also a goal of game theory, but it is more the question of, what would rational players do in a game?” Selten said in a 2004 interview with journalist Marika Griehsel.

See on bloomberg.com



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