The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1972
John R. Hicks, Kenneth J. Arrow
Kenneth J. Arrow
Born: 23 August 1921, New York, NY, USA
Affiliation at the time of the award: Harvard University, Cambridge, MA, USA
Prize motivation: "for their pioneering contributions to general economic equilibrium theory and welfare theory"
Field: general equilibrium theory, welfare theory
Contribution: Made fundamental contributions to the renewal of the general equilibrium theory. Work with welfare theory.Work in the theory of social choice.