Essays In the Theory of Risk-Bearing.

ARROW, Kenneth J.

$1,250.00

Item Number: 29023

Amsterdam-London: North -Holland Publishing Company, 1971.

First edition of this collection of essays by Nobel Prize-winning economist Kenneth Arrow. Octavo, original cloth. Signed by Kenneth J. Arrow on the title page. Small name to the front free endpaper, in near fine condition. No jacket was issued for this title. Books signed by Arrow are uncommon.

Kenneth Arrow is one of the most important economists in the second half of the twentieth century. His most significant works are his contributions to social choice theory, notably "Arrow's impossibility theorem", and his work on general equilibrium analysis. He has also provided foundational work in many other areas of economics, including endogenous growth theory and the economics of information. He was elected a Fellow of the American Academy of Arts and Sciences in 1959 and was the joint winner of the Nobel Memorial Prize in Economics with John Hicks in 1972, still the youngest person to receive that prize at the age of 51. He was the recipient of the 2004 National Medal of Science, the nation's highest scientific honor, presented by President George W. Bush for his contributions to research on the problem of making decisions using imperfect information and his research on bearing risk. His contributions to the general equilibrium theory were strongly influenced by Adam Smith's Wealth of Nations.