Arrow, Kenneth Joseph

Arrow, Kenneth Joseph, 1921–, American economist, b. New York City, grad. City College of New York (B.S. 1940), Columbia (M.A. 1941, Ph.D. 1951). He taught economics at the Univ. of Chicago (1947–49) and Stanford Univ. (1949–68) before serving on the faculty at Harvard (1968–79). A member of the President's Council of Economic Advisers (1962), he has been a consultant for the RAND Corp. since 1948. A specialist in welfare economics and general equilibrium theory, he shared the 1972 Nobel Memorial Prize in Economic Sciences with Sir John Richard Hicks. Arrow's publications include Social Choice and Individual Values (2d ed. 1963), Aspects of the Theory of Risk-Bearing (1965), General Competitive Analysis (1972), and The Economics of Information (1984); he has also edited Barriers to Conflict Resolution (1995) and Increasing Returns and Economic Analysis (1998).