Lionel McKenzie, Gerard Debreu, and this man are the namesakes of a basic model in general equilibrium theory, while the fundamental paradox that exists in the determination of demand for information was described in this economist's work Essays in the Theory of Risk-Bearing.
Lionel McKenzie, Gerard Debreu, and this man are the namesakes of a basic model in general equilibrium theory, while the fundamental paradox that exists in the determination of demand for information was described in this economist's work Essays in the Theory of Risk-Bearing. This economist helped define measures of risk aversion with John Pratt, while state contingent claims, which pay out one unit in certain states, are known as him namesake type of securities and are used in analysis of security markets. The Gibbard-Satterthwaite theorem generalized the most famous claim made by this author of Social Choice and Individual Values. For 10 points, name this American economist who stated that Pareto efficiency, independence of irrelevant alternatives, and non-dictatorship are among the criteria that cannot all be satisfied in a "fair" voting system.
Lionel McKenzie, Gerard Debreu, and this man are the namesakes of a basic model in general equilibrium theory, while the fundamental paradox that exists in the determination of demand for information was described in this economist's work Essays in the Theory of Risk-Bearing.
Kenneth Arrow