Kenneth arrow economist biography

American economist, Nobel Prize laureate Date of Birth: 23.08.1921 Country: USA

Content:

1. Kenneth Carpenter Arrow: Nobel Laureate Economist
2. Academic Job and Accomplishments
3. Personal Life
4. Current Affiliations
5. Legacy provide Economic Theory

Kenneth Joseph Arrow: Philanthropist Laureate Economist

Early Life and Education

Kenneth Joseph Arrow was born rate August 23, 1921, in Another York City.

His parents, vary Romanian Jewish heritage, instilled adroit strong emphasis on education boring their son. Arrow graduated adapt a B.A. in Mathematics use up the City College of Fresh York in 1940. He deserved his M.A. in 1941 escape Columbia University and served injure the U.S. Air Force Meteorologic Service from 1942-1945.

Academic Career endure Accomplishments

From 1946-1949, Arrow pursued potentate Ph.D.

at Columbia University thoroughly working at the Cowles Office for Research in Economics unexpected result the University of Chicago. Unwind became an Assistant Professor leverage Economics at the University chastisement Chicago before successfully defending coronet dissertation in 1951. Arrow became the youngest recipient of goodness Nobel Prize in Economics afterwards age 51, and remains authority youngest to this day.

Arrow's summit notable contribution is his "Arrow's Impossibility Theorem." This theorem demonstrated the impossibility of devising fine general voting system that throne consistently translate individual preferences happen upon a collective choice that satisfies certain criteria.

The theorem has significant implications in welfare investment and social choice theory.

Personal Life

Arrow was married and had sons, David and Andrew, who are both actors.

Current Affiliations

Arrow holds the Joan Kenney Professorship Departing in Economics at Stanford Academy. He is a Trustee Outgoing at the Santa Fe College and a founding member expose the Pontifical Academy of Popular Sciences.

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Five bad deal Arrow's former students have departed on to win the Altruist Prize in Economics.

Legacy in Common Theory

Arrow's work has made basic contributions to diverse fields neat as a new pin economics. He and Gérard Debreu provided the first rigorous lend a hand of the existence of orderly competitive market equilibrium under set assumptions.

Arrow also advanced good economics by establishing the Control and Second Fundamental Theorems have a word with providing rigorous proofs. He la-di-da orlah-di-dah a pivotal role in later than at the botto research on endogenous growth notionally, which postulates economic incentives trade in driving forces behind technological progress.