Kenneth Arrow Quotes

Kenneth Arrow

American Economist

Born: Aug 23, 1921

Died: Feb 21, 2017

Cited Deals Financial Future Made Research

Related authors: Alan Greenspan Herbert A. Simon John Kenneth Galbraith Milton Friedman Paul A. Volcker Richard Thaler Robert Reich Thomas Sowell

In 1963 and later papers, I pointed out that the special market characteristics of medical care and medical insurance could be explained by reference to differences in information among the parties involved. Kenneth Arrow

Care Differences Market Later Papers Characteristics Out Could Pointed Involved Parties Insurance Reference Information Explained Special Among Medical Medical Care

The major driver of economics is the equilibrium approach, which has taken various forms over the years. General equilibrium is the statement that all the different parts of the economy influence each other, even if it's remote, like mortgage-backed securities and their demands on automobiles. Kenneth Arrow

Economics Other Approach Statement Securities General Various Driver Taken Over Demands Major Like Remote Economy Parts Equilibrium Years Influence Different Automobiles Which Forms Different Parts Even Each

Not every business cycle has a financial crisis. Frequently they do. Kenneth Arrow

Business Financial Every Financial Crisis Crisis Frequently Cycle

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