Arrow and the Ascent of Modern Economic Theory [Hardcover]

This and the companion volume are about the ascent, vicissitudes and lacunae in the science and art modern economics and about Kenneth Arrow, his architectonic contributions to and impact on the theoretical and applied economics and moral and political philosophy of our age. They provide a comprehensive composite analysis of Arrow's approach and contributions to and his impact on modern economics and philosophy seen from various forms. In addition to original essays that not only analyse Arrow's contributions and impact, but provide insights into what is being done at the frontiers of the subject, these volumes contain interview chapters that afford extraordinary glimpses into the creativity and personality of the major contributors to the economics of our age (including our protagonist) and are an important historical document.Notes on the Contributors Preface The Potentials and Limits of Economic Analysis: The Contributions of Kenneth J. Arrow; G.R.Feiwel PART I: THE MAKERS OF MODERN GENERAL EQUILIBRIUM THEORY Oral History I: An Interview; Kenneth J.Arrow Oral History II: An Interview; G.Debreu Oral History III: An Interview; L.Hurwicz PART II: VISION, METHOD, APPLICATION Arrow's Vision of the Economic Process; C.Bliss Economic Theory and Mathematical Method: An Interview; R.J.Aumann Transformation in General Equilibrium Theory and Methods: An Interview; A.Mas-Colell Theory and Method - Second-Generation Perspective: An Interview; H.Sonnenschein Interaction between General Equilibrium and Macroeconomics: An Interview; L.R.Klein PART III: THEORY OF RESOURCE ALLOCATION On the Non-existence of Equilibrium: From Thornton to Arrow; T.Negishi On Equilibria of Bid-Ask Markets; R.B.Wilson General Equilibrium Analysis of Imperfect Competition: An Illustrative Example; J.Roberts Incentive-based Decentralization: Expected-Externality Payments Induce Efficient Behaviour in Groups; J.W.Pratt and R.Zeckhauser Arrow and the Theory of Discrimination; H.l³$