The Economics of Kenneth J. Arrow: A Selective Review | Annual Review of Economics

Vol. 11:1-26 (Volume publication date August 2019) First published as a Review in Advance on May 6, 2019 https://doi-org.proxy.library.nyu.edu/10.1146/annurev-economics-080218-030323 Eric S. Maskin1,2 1Department of Economics, Harvard University, Cambridge, Massachusetts 02138, USA; email: emaskin@fas.harvard.edu 2International Laboratory of Decision Choice and Analysis, Higher School of Economics, Moscow 101000, Russia This article reviews Kenneth Arrow's seminal work in economics, giving special emphasis to his contributions to social choice theory and general equilibrium theory. Kenneth Arrow, social choice, general equilibrium, biography, JEL A11, JEL B32, JEL C62, JEL D50, JEL D71, JEL D81, JEL D83 Kenneth Arrow is a giant among economists. In the latter half of the twentieth century, only Paul Samuelson had a comparable effect on the economics profession.1 Arrow created modern social choice theory, established most of the major results in general equilibrium theory, pioneered con

Vol. 11:1-26 (Volume publication date August 2019) First published as a Review in Advance on May 6, 2019 https://doi-org.proxy.library.nyu.edu/10.1146/annurev-economics-080218-030323 Eric S. Maskin1,2 1Department of Economics, Harvard University, Cambridge, Massachusetts 02138, USA; email: emaskin@fas.harvard.edu 2International Laboratory of Decision Choice and Analysis, Higher School of Economics, Moscow 101000, Russia This article reviews Kenneth Arrow's seminal work in economics, giving special emphasis to his contributions to social choice theory and general equilibrium theory. Kenneth Arr