| The Arrow Impossibility Theorem Contributor(s): Maskin, Eric (Author), Sen, Amartya (Author), Arrow, Kenneth (With) |
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ISBN: 0231153287 ISBN-13: 9780231153287 Publisher: Columbia University Press OUR PRICE: $17.96 Product Type: Hardcover - Other Formats Published: July 2014 |
| Additional Information |
| BISAC Categories: - Business & Economics | Economics - Theory - Business & Economics | Decision Making & Problem Solving - Mathematics | Game Theory |
| Dewey: 330.1 |
| LCCN: 2014007031 |
| Series: Kenneth J. Arrow Lecture |
| Physical Information: 0.7" H x 5.7" W x 8.3" (0.75 lbs) 168 pages |
| Descriptions, Reviews, Etc. |
| Publisher Description: Kenneth J. Arrow's pathbreaking "impossibility theorem" was a watershed innovation in the history of welfare economics, voting theory, and collective choice, demonstrating that there is no voting rule that satisfies the four desirable axioms of decisiveness, consensus, nondictatorship, and independence. In this book Eric Maskin and Amartya Sen explore the implications of Arrow's theorem. Sen considers its ongoing utility, exploring the theorem's value and limitations in relation to recent research on social reasoning, and Maskin discusses how to design a voting rule that gets us closer to the ideal--given the impossibility of achieving the ideal. The volume also contains a contextual introduction by social choice scholar Prasanta K. Pattanaik and commentaries from Joseph E. Stiglitz and Kenneth J. Arrow himself, as well as essays by Maskin, Dasgupta, and Sen outlining the mathematical proof and framework behind their assertions. |
Contributor Bio(s): Dasgupta, Partha: - Professor Dasgupta is the Frank Ramsey Professor of Economics at the University of Cambridge. He is also the Andrew D. White Professor-at-Large at Cornell University and is currently President of the European Association of Environmental and Resource Economists. His books include Economics: A Very Short Introduction (OUP, 2017), Human Well-Being and the Natural Environment (OUP, 2004) and An Inquiry into Well-Being and Destitution(OUP, 1993).Stiglitz, Joseph E.: - Joseph E. Stiglitz is University Professor at Columbia University and a member and former chair of Columbia University's Committee on Global Thought. He was the winner of the 2001 Nobel Prize for Economics. He served on President Clinton's Council of Economic Advisors, and then joined the World Bank as chief economist and senior vice president. His most recent book is The Price of Inequality: How Today's Divided Society Endangers Our Future. |