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American economist (1921–2017)
Kenneth Joseph Arrow (August 23, 1921 – February 21, 2017) was an American economist, mathematician and political theorist. He received the John Bates
Kenneth_Arrow
Proof all ranked voting rules have spoilers
Arrow's impossibility theorem is a key result in social choice theory, proved by American economist Kenneth Arrow. It shows that no group decision-making
Arrow's_impossibility_theorem
Decision rule used for minimizing the possible loss for a worst-case scenario
the move with the largest value (represented in the figure with a blue arrow). This is the move that the player should make in order to minimize the
Minimax
Name list
avant-garde-film director Kenneth Arrow (1921–2017), American economist, Nobel Memorial Prize in Economics winner, 1972 Kenneth Atchity (born 1944), American
Kenneth
Logical paradox in decision-making theory
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Paradox_of_tolerance
Indian economist and Nobel laureate (born 1933)
which first came to prominence in the work by the American economist Kenneth Arrow. Arrow had most famously shown that when voters have three or more distinct
Amartya_Sen
Situation where total gains match total losses
Press (1953). June 25, 2005. ISBN 9780691130613. Retrieved 2018-02-25. Arrow, Kenneth; Hurwicz, Leonid (April 1957). "Gradient Methods for Constrained Maxima"
Zero-sum_game
Problem in intellectual property management
The Arrow information paradox (information paradox for short, or AIP), and occasionally referred to as Arrow's disclosure paradox, named after Kenneth Arrow
Arrow_information_paradox
Paper-and-pencil game for two players
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Tic-tac-toe
Weakly optimal allocation of resources
outcome. This result was first demonstrated mathematically by economists Kenneth Arrow and Gérard Debreu. However, the result only holds under the assumptions
Pareto_efficiency
Hungarian-American economist and philosopher (1920–2000)
Harsanyi wrote a dissertation in game theory under the supervision of Kenneth Arrow, earning a second PhD in economics in 1959, while Anne earned an MA
John_Harsanyi
Mathematical models of strategic interactions
Martin (1981). "Game Theory Models and Methods in Political Economy". In Arrow, Kenneth; Intriligator, Michael (eds.). Handbook of Mathematical Economics, v
Game_theory
Solution concept of a non-cooperative game
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Nash_equilibrium
Subcategory of welfare economics
society as "better than", "worse than", or "indifferent to" each other. Kenneth Arrow (1963) showed a difficulty of trying to extend a social welfare function
Economic_justice
Israeli-American psychologist and economist (1934–2024)
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Daniel_Kahneman
Standard example in game theory
use of the prisoner's dilemma as a thinking tool in moral philosophy. Kenneth Binmore argued that the prisoner's dilemma does not accurately describe
Prisoner's_dilemma
where the value of an allocation is its dot product with the price vector. Arrow motivated his paper by reference to the need to extend proofs to cover equilibria
Fundamental theorems of welfare economics
Fundamental_theorems_of_welfare_economics
Concept in game theory
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Focal_point_(game_theory)
Overuse of a shared resource
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Tragedy_of_the_commons
Hungarian and American mathematician and physicist (1903–1957)
theorems is underscored by the awarding of Nobel prizes in 1972 to Kenneth Arrow, in 1983 to Gérard Debreu, and in 1994 to John Nash who used fixed point
John_von_Neumann
Hand game for two players or more
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Rock_paper_scissors
Economic Model
general reference for other microeconomic models. It was proposed by Kenneth Arrow, Gérard Debreu in 1954, and Lionel W. McKenzie independently in 1954
Arrow–Debreu_model
Topics referred to by the same term
From the surname Arrow, it may mean: Kenneth Arrow's impossibility theorem about social choice and voting Arrow information paradox: "its value for the
Arrow paradox (disambiguation)
Arrow_paradox_(disambiguation)
Search algorithm
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Alpha–beta_pruning
Theory of equilibrium between supply and demand
modern form with the work of Lionel W. McKenzie (Walrasian theory), Kenneth Arrow and Gérard Debreu (Hicksian theory) in the 1950s. Broadly speaking,
General_equilibrium_theory
1951 book by Kenneth Arrow
Kenneth Arrow's monograph Social Choice and Individual Values (1951; revised in 1963 and 2012) and a theorem within it created modern social choice theory
Social Choice and Individual Values
Social_Choice_and_Individual_Values
French economist (1942–2022)
Velupillai, it contained contributions from Nobel Prize winning economists Kenneth Arrow, Jean Tirole & Robert Solow as well as Olivier Blanchard & Edmond Malinvaud
Jean-Paul_Fitoussi
Game whose outcome can be correctly predicted
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Solved_game
Concept in economics
be traced to the work of Kenneth Arrow (1964), Gérard Debreu (1959), Arrow & Debreu (1954) and Lionel McKenzie (1954). Arrow and Debreu were awarded the
Complete_market
Learning through practice, self-perfection and minor innovations
solar PV production. The concept of learning-by-doing has been used by Kenneth Arrow in his design of endogenous growth theory to explain effects of innovation
Learning-by-doing_(economics)
Finding an optimal algorithm for playing chess
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Solving_chess
Concept in game theory
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Shapley_value
Problem in process of sharing surplus
Binmore, Kenneth (1998). Game Theory and the Social Contract Volume 2: Just Playing. Cambridge: MIT Press. ISBN 978-0-262-02444-0. Binmore, Kenneth (2005)
Cooperative_bargaining
American economist
University, where he studied under Nobel Prize in Economics winner Kenneth Arrow and Hirofumi Uzawa. Shell is currently Robert Julius Thorne Professor
Karl_Shell
American economist
from Harvard University in 1978, under the direction of thesis advisor Kenneth Arrow. She is a Fellow of the Econometric Society, the American Academy of
Nancy_Stokey
English saying meaning "equivalent retaliation"
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Tit_for_tat
Model of conflict for two players in game theory
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Chicken_(game)
Economic theory applied to political science
scholars have been awarded the Nobel Prize in Economics, including Kenneth Arrow (1972), James M. Buchanan (1986), George Stigler (1982), Gary Becker
Public_choice
Hand game for two or more players
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Chopsticks_(hand_game)
Pairing where no unchosen pair prefers each other over their choice
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Stable_matching_problem
Theorem in political science
theorem was first derived by Duncan Black in 1948, and independently by Kenneth Arrow. Similar median voter theorems exist for rules like score voting and
Median_voter_theorem
Israeli psychologist (1937–1996)
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Amos_Tversky
Book by Amartya Sen
and nuanced and its careful scholarship is manifest at every turn." Kenneth Arrow concluded "In this book, Amartya Sen develops elegantly, compactly,
Development_as_Freedom
English mathematician and game theorist (born 1940)
Kenneth George Binmore, CBE, FBA (born 27 September 1940) is an English mathematician, economist, and game theorist, a Professor Emeritus of Economics
Kenneth_Binmore
American economist
(1952) René Roy (1953) Wassily Leontief (1954) Richard Stone (1955) Kenneth Arrow (1956) Trygve Haavelmo (1957) James Tobin (1958) Marcel Boiteux (1959)
Eddie_Dekel
Theorized behavior in economics
demographic groups. The theory of statistical discrimination was pioneered by Kenneth Arrow (1973) and Edmund Phelps (1972). The name "statistical discrimination"
Statistical discrimination (economics)
Statistical_discrimination_(economics)
Making of satisfactory, not optimal, decisions
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Bounded_rationality
French mathematical economist (1834–1910)
contribution in the elaboration of the neoclassical synthesis. For their part, Kenneth Arrow and Gérard Debreu, from the perspective of a logician and a mathematician
Léon_Walras
Model of humans as rational, self-interested agents
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Homo_economicus
System composed of many interacting components
laureates Murray Gell-Mann and Philip Anderson, economics Nobel laureate Kenneth Arrow, and Manhattan Project scientists George Cowan and Herb Anderson. Today
Complex_system
Facilitating a peaceful outcome to a dispute
2025{{citation}}: CS1 maint: location (link) Ruble, Thomas L.; Thomas, Kenneth W. (1 June 1976). "Support for a two-dimensional model of conflict behavior"
Conflict_resolution
Decrease in severity of conflicts
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
De-escalation
Theorem in topology
economies as developed in the 1950s by economics Nobel prize winners Kenneth Arrow and Gérard Debreu. The theorem was first studied in view of work on
Brouwer_fixed-point_theorem
Use of economics to study organizations
theorists and contributors in the field of organizational economics: Kenneth Arrow James March Herbert Simon Oliver Williamson Ronald Coase David Teece
Organizational_economics
Human behavior pattern in which the participant takes on increasing risk
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Escalation_of_commitment
Conflict between safety and cooperation
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Stag_hunt
American economist (1930–2014)
Becker their favorite living economist over the age of 60, followed by Kenneth Arrow and Robert Solow. Economist Justin Wolfers called him "the most important
Gary_Becker
efficiency Kenneth Arrow (1921–2017) United States Columbia University (PhD, economics) Harvard University Fundamental theorems of welfare economics, Arrow's impossibility
List of Nobel Memorial Prize laureates in Economic Sciences
List_of_Nobel_Memorial_Prize_laureates_in_Economic_Sciences
Canadian-American economist and Nobel Laureate (born 1943)
a dissertation titled "Market signalling" under the supervision of Kenneth Arrow and Thomas C. Schelling. Spence was awarded the David A. Wells Prize
Michael_Spence
Game theory case weighing own/others' sacrifice
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Volunteer's_dilemma
Notion in combinatorial game theory
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Game_complexity
Military strategy during the Cold War with regard to the use of nuclear weapons
contributed to deterrence theory. In the words of scholars Fredrik Logevall and Kenneth Osgood, "Munich and appeasement have become among the dirtiest words in
Deterrence_theory
Two-player coordination game in game theory
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Battle of the sexes (game theory)
Battle_of_the_sexes_(game_theory)
Resource distribution game
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Blotto_game
Simple mathematical game
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Pirate_game
Branch of economics
assumptions that are often unreasonable. A seminal 1963 article by Kenneth Arrow is often credited with giving rise to health economics as a discipline
Health_economics
Tendency to overestimate in auctions
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Winner's_curse
American economist (1922–2012)
noted economist, as were Samuelson, Anita Summers, and her brother Kenneth Arrow. Summers died in 2012 at the age of 89 at his home in Gladwyne, Pennsylvania
Robert_Summers_(economist)
Polish–American economist and mathematician (1917–2008)
Hurwicz, Leonid; Arrow, Kenneth J. (1977), "Appendix: An optimality criterion for decision-making under ignorance", in Arrow, Kenneth J.; Hurwicz, Leonid
Leonid_Hurwicz
Situation where all parties are worse off
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
No-win_situation
Transactional view of violent conflict in international relations theory
way of expressing ideas that the likes of Robert Art, Robert Jervis and Kenneth Oye have previously presented. Jonathan Kirshner has criticized the assumption
Bargaining_model_of_war
Wilson 1999—Robert Solow 2000—Gary Becker 2003—R. Duncan Luce 2004—Kenneth Arrow 2005—Gordon H. Bower 2008—Michael Posner 2009—Mortimer Mishkin 2011—Anne
List of National Medal of Science laureates
List_of_National_Medal_of_Science_laureates
Surname list
footballer Kenneth Arrow (1921–2017), American economist, mathematician and political theorist, Nobel laureate in economics Michelle Arrow, Australian
Arrow_(surname)
Economic equilibrium concept
Walrasian equilibrium) is a concept of economic equilibrium, introduced by Kenneth Arrow and Gérard Debreu in 1951, appropriate for the analysis of commodity
Competitive_equilibrium
Theorem in game theory
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Aumann's_agreement_theorem
Quality of a strategy in game theory
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Strategic_dominance
Trigger strategy
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Grim_trigger
Condition in economics and game theory
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Perfect_information
Market structure in which firms are price takers for a homogeneous product
its main results. In the 1950s, the theory was further formalized by Kenneth Arrow and Gérard Debreu. Imperfect competition was a theory created to explain
Perfect_competition
Voting systems that use ranked ballots
Duncan Black, "On the Rationale of Group Decision-making" (1948). Arrow, Kenneth Joseph Arrow (1970) [1951]. Social Choice and Individual Values (PDF). Yale
Ranked_voting
Level of information in economics and game theory
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Complete_information
Variation of minimax game tree search
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Negamax
Israeli-American mathematician (born 1930)
1970: Paul A. Samuelson 1971: Simon Kuznets 1972: John R. Hicks / Kenneth J. Arrow 1973: Wassily Leontief 1974: Gunnar Myrdal / Friedrich August von Hayek
Robert_Aumann
Representation of a game in game theory
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Normal-form_game
Solution concept in game theory
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Quantal_response_equilibrium
Diplomatic policy of concessions
"Peace in Our Time: The Spirit of Munich Lives On", Policy Review. Harris, Kenneth (1988). Thatcher. Weidenfeld & Nicolson. p. 135. ISBN 0-00-637457-3. Vuilliamy
Appeasement
his PhD in Economics with a minor in Statistics from Stanford under Kenneth Arrow in 1964, Kmenta held academic positions at the University of Wisconsin
Jan_Kmenta
Game theory concept
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Bayesian_game
2021 memoir by Amartya Sen
and Sen's mentor at Cambridge Piero Sraffa, Isaiah Berlin, economists Kenneth Arrow, Paul Samuelson, Mahbub ul Haq, and Maurice Dobb. In fact, the author
Home_in_the_World
Zero-sum game where competitions between strategies contain a cycle
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Intransitive_game
Game theory scenario
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Win–win_game
Concept in game theory
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Incentive_compatibility
Economic analysis of contracts
of economics, the first formal treatment of this topic was given by Kenneth Arrow in the 1960s. In 2016, Oliver Hart and Bengt R. Holmström both received
Contract_theory
Paradox of combining strategies
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Parrondo's_paradox
American economist (born 1939)
London, England: New York Verso. ISBN 9781859842553. Bowles, Samuel; Arrow, Kenneth; Durlauf, Steven (2000). Meritocracy and economic inequality. Princeton
Samuel_Bowles_(economist)
Game theory concept
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Subgame_perfect_equilibrium
American economist
undisturbed wilderness has economic value ("nonuse value"). According to Kenneth Arrow, "John Krutilla can fairly be said to have created or stimulated most
John_V._Krutilla
Poker game developed by Harold Kuhn
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Kuhn_poker
Concept in economics and game theory
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Price_of_anarchy
Branch of game theory about two-player sequential games with perfect information
Maskin Harold W. Kuhn Herbert Simon Herbert Scarf Jennifer Tour Chayes Kenneth Arrow Leonid Hurwicz Lloyd Shapley Martin Shubik Melvin Dresher Merrill M
Combinatorial_game_theory
travel, tourism, insurance
KENNETH ARROW
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KENNETH ARROW
travel, tourism, insurance