Reinhard Selten

subgame perfection; bounded rationality experiments.

Reinhard Selten (1930–2016) was a German economist and professor who shared the 1994 Nobel Prize in Economic Sciences with John Nash and John Harsanyi. He formalised subgame perfection as a solution concept for extensive-form games and conducted pioneering laboratory experiments probing how real decision-makers deviate from rational-choice predictions, advancing the field of bounded rationality.