Kenneth Arrow, one of the giants of economics, has died at the age of 95. He became a Nobel Laureate in 1972. As a young lawyer in 1977, I saw him in action as an expert witness on the subject of risk ...

Democracy feels intuitive, fair, and rational, yet mathematics tells a far more troubling story. In the mid-20th century, a formal proof showed that no voting system can fairly translate individual ...

Public Choice, Vol. 179, No. 1/2, Special Issue: Honoring Kenneth Arrow (April 2019), pp. 125-131 (7 pages) Arrow’s impossibility result not only had a profound influence on welfare economics, but was ...

One of his earliest and most famous contributions was to social choice theory “Arrow’s impossibility theorem”. He also contributed to neoclassical General Equilibrium Analysis but also contributed to ...