1. Reinhard Selten's Impact on Ec
... tenure at the University of California at Berkeley in 1967, shortly after receiving his habilitation (permission to lecture independently) from Germany. He moved on to the Free University of Berlin in 1969, then jumped to the University of Bielefeld in 1972. Original plans to build a huge ... non-cooperative games. Non-cooperative game theory is the branch of game theory that excludes binding agreements. This area has had a significant impact on experimental economic research. The important aspect of this theory is the concept of equilibrium (analyzed by the three prizewinners), which is...
- Word Count: 1416
- Approx Pages: 6
- Grade Level: Undergraduate