Collected Papers of Kenneth J. Arrow

Kenneth J. Arrow

ISBN 10: 0674137612 / ISBN 13: 9780674137615

Published by Harvard University Press Mär 1984, 1984

About this Item

Neuware - Unlike the papers of some other great economists, those of Kenneth Arrow are being read and studied today with even greater care and attention than when they first appeared in the journals. The publication of his collected papers will therefore be welcomed by economists and other social scientists and in particular by graduate students, who can draw from them the deep knowledge and the discernment in selection of scientific problems that only a master can offer. The author has added headnotes to certain well-known papers, describing how he came to write them.

Seller Inventory # 9780674137615

Bibliographic Details

• Title: Collected Papers of Kenneth J. Arrow
• Publisher: Harvard University Press Mär 1984
• Publication Date: 1984
• Language: English
• ISBN 10: 0674137612
• ISBN 13: 9780674137615
• Binding: Buch
• Condition: Neu
• Dimensions: 235W x 156H x 0D millimeters 235 millimeters width by 156 millimeters height by 0 millimeters depth
• Weight: 694 grams

About this title

Synopsis

Unlike the papers of some other great economists, those of Kenneth Arrow are being read and studied today with even greater care and attention than when they first appeared in journals. This publication of his collected papers, to be completed in seven topical volumes, will be welcomed by economists and other social scientists and in particular by graduate students, who can draw from them the deep knowledge and taste in the selection of scientific problems that only a master can offer.

This volume is concerned with the foundations of neo-classical economic analysis. General equilibrium is a theory of prices in which all of the actions of the economic agents in an economy are determined simultaneously and in a decentralized fashion. The price system, determined in competitive markets, guides actions for both firms and individual consumers. All of the complex interrelations of the economy are distilled into the determination of this price system.

In these papers, Arrow examines the conditions under which such a price system would exist. He also clarifies the conditions under which the system can or cannot achieve an optimum. In the latter case, when “market failures” are present, he shows the role of a benevolent government in helping to overcome the induced inefficiencies.

About the Author

A past president of the American Economic Association, Kenneth J. Arrow was awarded the Nobel Memorial Prize in Economic Science in 1972.