The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1972
John R. Hicks, Kenneth J. Arrow
John R. Hicks
Born: 8 April 1904, Warwick, United Kingdom
Died: 20 May 1989, Blockley, United Kingdom
Affiliation at the time of the award: All Souls College, Oxford, United Kingdom
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. Introduced new welfare concepts in microeconomics.