Nobel Prize winner Reinhard Selten
In 1994 Reinhard Selten received the Nobel Prize in economics. As part of his work in the field of game theory Prof. Selten developed the concepts of the "partially perfect equilibrium" and "limited rationality" and is one of the founders of "experimental economics". He also founded the Laboratory for Experimental Economics Research. Reinhard Selten also received numerous honorary PHD degrees and national awards.