ARROW, KENNETH JOSEPH


ARROW, KENNETH JOSEPH
ARROW, KENNETH JOSEPH (1921– ), U.S. economist and Nobel laureate. Arrow was born in New York and received his doctorate from Columbia University in 1951. He was appointed professor of economics and statistics at Stanford University, California, in 1953. Appointed in 1962 to the Council of Economic Advisors of the Executive Office of the President of the United States, he was a consultant for the RAND Corporation from 1948 on, which he refers to as "the heady days of emerging game theory and mathematical programming." He received the John Bates Clark Medal of the American Economic Association in 1957 and was elected a member of the National Academy of Sciences and the American Philosophical Society. He was a fellow of Churchill College, Cambridge, in 1963–64 and 1970, and was appointed professor of economics at Harvard (1968–79). In 1979 he returned to Stanford University, where he held the title of Professor Emeritus in the Department of Economics. His most significant works are his contributions to social choice theory, notably Arrow's "impossibility theorem," and his work on general equilibrium analysis. For his specialized work in welfare economics and general equilibrium theory, Arrow was awarded the 1972 Nobel Memorial Prize in economic sciences. His impossibility theorem, also known as "Arrow's paradox," shows the impossibility of designing rules for social decisionmaking that obey all of a number of "reasonable" criteria. The general equilibrium theory, a branch of theoretical microeconomics, seeks to explain production, consumption, and prices in a whole economy. It attempts to give an understanding of the whole economy using a bottom-up (as opposed to a Keynesian macroeconomic top-down) approach, starting with individual markets and agents. Working with Gerard Debreu (who won the Nobel Prize for this work in 1983), Arrow produced the first rigorous proof of the existence of a market-clearing equilibrium, given certain restrictive assumptions. Among Arrow's numerous publications are Social Choice and Individual Values (1951); Studies in Linear and Nonlinear Programming (with L. Hurwicz and H. Uzawa, 1958); A Time Series Analysis of Interindustry Demands (with M. Hoffenberg, 1959); Essays in the Theory of Risk-Bearing (1971); General Competitive Analysis (1972); The Limits of Organization (1974); The Economics of Information (1984); Handbook of Mathematical Economics (1984); General Equilibrium (1984); The Balance between Industry and Agriculture in Economic Development (1988); Barriers to Conflict Resolution (1995); and Saving Lives, Buying Time: Economics of Malaria Drugs in an Age of Resistance (2004). Six volumes of his collected papers were published in 1984–85 and three volumes of essays in his honor (W.P. Heller, D.A. Starrett, and R.M. Starr, eds.) appeared in 1986, dealing, respectively, with equilibrium analysis, social choice and public decisionmaking, and uncertainty information and communications. (Ruth Beloff (2nd ed.)

Encyclopedia Judaica. 1971.

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  • Kenneth Joseph Arrow — Kenneth Arrow Kenneth Joseph Arrow (* 23. August 1921 in New York City) ist ein amerikanischer Ökonom. 1972 erhielt er den Nobelpreis für Wirtschaftswissenschaften gemeinsam mit John Richard Hicks …   Deutsch Wikipedia

  • Kenneth Joseph Arrow — Kenneth Arrow Kenneth Arrow en 2008. Kenneth Joseph Arrow (23 août 1921 à New York) est un économiste américain. Il est co titulaire, avec John Hicks, du prix « Nobel d économie » en 1972. Il est …   Wikipédia en Français

  • Arrow, Kenneth J. — ▪ American economist in full  Kenneth Joseph Arrow  born August 23, 1921, New York, New York, U.S.       American economist known for his contributions to welfare economics and to general economic equilibrium theory. He was cowinner (with Sir… …   Universalium

  • Wirtschaftsnobelpreis 1972: Kenneth Joseph Arrow — John Richard Hicks —   Der amerikanische und der britische Ökonom erhielten den Nobelpreis für ihre bahnbrechenden Leistungen auf den Gebieten der Allgemeinen Gleichgewichtstheorie und der Wohlfahrtstheorie.    Biografien   Kenneth Joseph Arrow, * New York 23. 8.… …   Universal-Lexikon

  • Kenneth Arrow — Ceremonia Premio National Medal of Science en 2004. Nacimiento …   Wikipedia Español

  • Kenneth J. Arrow — Kenneth Arrow Kenneth Joseph Arrow (* 23. August 1921 in New York City) ist ein amerikanischer Ökonom. 1972 erhielt er den Nobelpreis für Wirtschaftswissenschaften gemeinsam mit John Richard Hicks …   Deutsch Wikipedia

  • Kenneth Arrow — Kenneth Joseph Arrow (* 23. August 1921 in New York City) ist ein US amerikanischer Ökonom. 1972 erhielt er den Nobelpreis für Wirtschaftswissenschaften gemeinsam mit John Richard Hicks. Inhaltsverzeichnis …   Deutsch Wikipedia

  • ARROW (K. J.) — ARROW KENNETH JOSEPH (1921 ) Économiste et mathématicien américain, Kenneth Joseph Arrow s’est signalé par un certain nombre d’apports théoriques, dont le plus connu est sans nul doute le théorème d’impossibilité (1952). Reprenant un problème… …   Encyclopédie Universelle

  • Arrow's impossibility theorem — In social choice theory, Arrow’s impossibility theorem, the General Possibility Theorem, or Arrow’s paradox, states that, when voters have three or more distinct alternatives (options), no voting system can convert the ranked preferences of… …   Wikipedia

  • Kenneth — /ken ith/, n. a male given name: from an Irish word meaning handsome. * * * (as used in expressions) Arrow Kenneth Joseph Burns Kenneth Lauren Clark of Saltwood Kenneth Mackenzie Clark Baron Galbraith John Kenneth Grahame Kenneth Hines Earl… …   Universalium


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