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1 day ago · In mathematical economics, the Arrow–Debreu model is a theoretical general equilibrium model. It posits that under certain economic assumptions ( convex preferences, perfect competition, and demand independence) there must be a set of prices such that aggregate supplies will equal aggregate demands for every commodity in the economy. [1]
Jul 10, 2024 · Arrow's impossibility theorem, named after economist Kenneth J. Arrow, is also known as the general impossibility theorem. Key Takeaways. Arrow's impossibility theorem is a social-choice...
- Daniel Liberto
- 2 min
Jul 10, 2024 · In 1951, Nobel Prize winner in economics Kenneth Arrow proposed the ' Arrow's Impossibility Theorem, ' which states that 'if two or more voters have three or more choices, there is no fair...
3 days ago · In the General Possibility Theorem, Kenneth Arrow argues that if a legislative consensus can be reached through a simple majority, then minimum conditions must be satisfied, and these conditions must provide a superior ranking to any subset of alternative votes (Arrow 1963).
Jun 30, 2024 · Kenneth Arrow (1921-2017) showed that markets by themselves do not yield efficiency in the production and dissemination of knowledge. More recent case studies on building tech ecosystems showed that learning is really about copying or imitating global knowledge and adapting these to local needs.
3 days ago · The celebrated designer and co-founder of Pentagram has passed away at age 95. It is with immense sadness that we note the passing of Sir Kenneth Grange, the celebrated industrial designer and one of the co-founders of Pentagram. In 1972, Kenneth joined forces with Alan Fletcher, Colin Forbes, Theo Crosby and Mervyn Kurlansky to form Pentagram ...
Jun 28, 2024 · The future of exercise. An expert in the molecules of metabolism explains promising new understandings of the deep chemical connections between diet, exercise, and human health. June 28, 2024. |.
