Definition
Kenneth Joseph “Ken” Arrow was an American economist, mathematician, writer, and political theorist. He was the joint winner of the Nobel Memorial Prize in Economic Sciences with John Hicks in 1972.
Kenneth Arrow
What is ‘Kenneth Arrow’
An American neoclassical economist who won the Nobel Memorial Prize in Economics along with John Hicks in 1972 for his contributions to general equilibrium analysis and welfare economics. Arrow’s research has also explored social choice theory, endogenous growth theory, collective decision making, the economics of information and the economics of racial discrimination, among other topics.
Explaining ‘Kenneth Arrow’
Born in New York City in 1921, Arrow has taught at Stanford University, Harvard and the University of Chicago. Arrow earned his Ph.D. from Columbia University, with a dissertation that discussed his impossibility theorem. He later published a book on the same subject. Arrow is also known as one of the first economists to recognize the learning curve.
Kenneth Arrow FAQ
What is the main point of Kenneth Arrow’s Impossibility Theorem?
What does Arrow’s Impossibility Theorem mean?
Who Wrote experience no value?
Further Reading
- What has economics to say about racial discrimination? – www.aeaweb.org [PDF]
- Rationality of self and others in an economic system – www.jstor.org [PDF]
- Economic theory and the hypothesis of rationality – link.springer.com [PDF]
- Economic transition: speed and scope – www.jstor.org [PDF]
