Arrow Kenneth Joseph

<sociology, economics> American economist and social theorist (1921- ). In Social Choice and Individual Values (1951). Arrow introduced the general impossibility theorem, which shows that the rationally collective preference of a group cannot always be derived from the transitive preferences of its individual members. (This point is often illustrated with instances of the voting paradox.) Arrow won the Nobel Prize in Economic Sciences in 1972. Recommended Reading: Kenneth Joseph Arrow, The Limits of Organization (Norton, 1974) and Markets, Information, and Uncertainty: Essays in Economic Theory in Honor of Kenneth J. Arrow, ed. by Graciela Chichilnisky (Cambridge, 1999).

[A Dictionary of Philosophical Terms and Names]

<2001-11-16>

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