In economics, the market has been understood to steer behavior towards a competitive equilibrium in which all economic actors behave optimally, and in which welfare of society is maximized. Yet many economists have also seen shortcomings to this ideal picture of the market in the form of limited...

Exceptional Academic Behavior -- Reinhard Selten a Wanderer -- Encounters with Reinhard Selten: An Office Mate’s Report -- Reinhard Selten’s Frankfurt Years from the Perspective of a Co-player -- Reinhard Selten and the Scientific Climate in Frankfurt During the Fifties -- Reinhard Selten...

Few would dispute that the well-being of individuals is one of the most desirable aims of human actions. However, approaches on how to define, measure, evaluate, and promote well-being differ widely. The conventional economic approach takes income (or the power to acquire market goods) as the...