Reinhard Selten
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1994

Born: 5 October 1930, Breslau (now Wroclaw), Germany (now Poland)

Died: 23 August 2016, Poznan, Poland

Affiliation at the time of the award: Rheinische Friedrich-Wilhelms-Universität, Bonn, Federal Republic of Germany

Prize motivation: "for their pioneering analysis of equilibria in the theory of non-cooperative games."

Contribution: Refined the Nash equilibrium concept for analyzing dynamic strategic interaction by getting rid of unlikely equilibria. He also applied the refined concept to analyses of oligopolistic competition.

Prize share: 1/3