The old question (considered already by Einstein) whether the quantum-mechanical wave function represents "reality" has recently attracted renewed interest. Amazingly, modern approaches inspired by Quantum Information Theory can provide answers. In my talk, I will show that the wave function is indeed in one-to-one correspondence with "elements of reality". The latter are defined based on a rather generous criterion, which only requires that their existence does not restrict an experimenter's freedom of choice.
(The talk is based on joint work with Roger Colbeck.)