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In economics, Arrow was a major figure in post-World War II neoclassical economic theory. Many of his former graduate students have gone on to win the Nobel Memorial Prize themselves. His most significant works are his contributions to social choice theory, notably "Arrow's impossibility theorem", and his work on general equilibrium analysis.
Kenneth J. Arrow was an American economist known for his contributions to welfare economics and to general economic equilibrium theory. He was cowinner (with Sir John R. Hicks) of the Nobel Prize for Economics in 1972. Perhaps his most startling thesis (built on elementary mathematics) was the
Feb 21, 2017 · Professor Arrow — a member of an extended family of distinguished economists, including Professor Samuelson and Lawrence H. Summers, the former Treasury secretary and adviser to President...
Sep 12, 2023 · Arrow's major contributions to economic theory include the advances in social choice theory, most notably Arrow's impossibility theorem. Understanding Kenneth Arrow. Born in New...
- Will Kenton
- 2 min
Later themes included a specification of the demand for information and the implications of information as an economic input for returns to scale. Another area of study was the economics of racial discrimination. Kenneth J. Arrow died on 21 February 2017. Copyright © The Nobel Foundation 2005.
This article reviews Kenneth Arrow's seminal work in economics, giving special emphasis to his contributions to social choice theory and general equilibrium theory.
Jun 12, 2019 · His fundamental contributions in the ‘astonishing’ decade-and-a-half from 1950 to 1965, especially in social choice theory, inventory theory and information economics, on the one hand, and the foundations of (production) exchange theory that was the Arrow–Debreu mathematical theory of general economic equilibrium, on the other, were based ...
