Kenneth Joseph Arrow

Kenneth Joseph Arrow (1921-2017) was a US economist who was awarded Nobel Prize for Economics in 1972. The Prize was shared with English economist Sir John Richard Hicks (1904-1989). He is known chiefly for his work on general economics equilibrium and social choice. His Social Choices and Individual Values was published in 1951 in which he argued that aggregating the preferences of individuals into a single combined order of priorities for society as a whole was impossible.