This economist's work on information asymmetry includes "Uncertainty and the Welfare Economics of Medical Care". He names a model in general equilibrium theory assuming a lot of labor resources and access to every kind of available good with Gerard Debreu. Alan Gibbard and M
This economist's work on information asymmetry includes "Uncertainty and the Welfare Economics of Medical Care". He names a model in general equilibrium theory assuming a lot of labor resources and access to every kind of available good with Gerard Debreu. Alan Gibbard and Mark Satterthwaite modified this man's most notable idea, which was presented in Social Choice and Individual Values. That idea states that criteria such as the Pareto efficiency and unrestricted domain cannot exist in a voting system that seeks to fairly represent voters' preferences. For 10 points, name this economist with a namesake Impossibility Theorem.
This economist's work on information asymmetry includes "Uncertainty and the Welfare Economics of Medical Care".
Kenneth Joseph Arrow