Essays in the theory of risk-bearing / [by] Kenneth J
Arrow kenneth j essays in the theory of risk bearing ..
One of the recent attempts to revive this kind of assumption, it seems to me, is the idea that a “social welfare function” or a “rational social choice” can be obtained by means of mathematical tricks such as those analyzed in Kenneth Arrow’s famous essay (New York: John Wiley and Sons, Inc., 1951). In such a view, computing machines become the modern substitute for the or the .
arrow kenneth j essays in the theory of risk bearing amsterdam 1970
Professor Arrow is a professor at Stanford University. Together with John R. Hicks, he was awarded the Nobel Prize in Economic Sciences in 1972 “for their pioneering contributions to general economic equilibrium theory and welfare theory”. He has published work on a variety of topics in economics, including work on social choice, the use of securities for risk-bearing, general equilibrium theory, the economics of information, with special reference to asymmetric information, inventories, economic growth and its measurement, medical economics, and the economics of innovation. He has also received a number of honours, including the John Bates Clark medal of the American Economic Association, and the John von Neumann Theory Prize of the Institute for Operations Research and Management Science, as well as 25 honorary degrees.
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To celebrate the fifth year of the Sun Hung Kai Properties Nobel Laureates Distinguished Lectures, Sun Hung Kai Properties (SHKP) and The Chinese University of Hong Kong (CUHK) announced earlier that three Nobel Laureates in Economic Sciences have been invited to deliver three lectures to address the current state of the global economy. Unveiling the new economic lecture series, the first lecture was delivered today (3 November) by Professor Kenneth J. Arrow, 1972 Nobel Laureate in Economic Sciences, who spoke on “Economic Analysis and Social Obligation” to an audience of around 500 CUHK staff, students, alumni and members of the economic and political sectors, as well as the general public.