Essays in Honor of Kenneth J. Arrow: Volume 1, Social Choice and Public Decision MakingWalter P. Heller, Ross M. Starr, David A. Starrett Professor Kenneth J. Arrow is one of the most distinguished economic theorists. He has played a major role in shaping the subject and is honoured by the publication of three volumes of essays on economic theory. Each volume deals with a different area of economic theory. The books include contributions by some of the best economic theorists from the United States, Japan, Israel and Europe. |
Contents
public debt in | 5 |
Incentive theory with data compression | 10 |
An exercise in nonWalrasian analysis | 11 |
Uncertainty information and communication | 26 |
Information and invariance in normative choice | 29 |
Utilitarian morality in a world of very halfhearted altruists | 57 |
some simple axiomatic approaches | 97 |
DECISION MAKING IN THE PUBLIC SECTOR | 115 |
Asset pricing theories | 116 |
Toward a theory of planning | 143 |
On the social risk premium | 159 |
A problem of financial market equilibrium when the timing of | 177 |
implications for the opportunity cost | 189 |
Equilibrium analysis | 210 |
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Common terms and phrases
act utilitarian allocations analysis Arrow social norm Arrow's theorem asset assume assumption axiom behavior binary relation Cambridge choice function choose concept consequences consequentialist consumption context convex correspondence debt decision tree defined definition dollar Econometrica equivalence essay ethics event planning example game form given Hammond Harsanyi Hurwicz implementation implies independence of irrelevant individual rationality informational constraints interpersonal comparisons invariance requirement irrelevant alternatives isoinformation sets Kenneth Arrow lattice points Lemma Maskin monotonicity n-tuples Nash equilibrium neighborhood system node optimal outcome Pareto efficient Pareto principle preference price of capital private investment problem programs proof public investment rule utilitarian Section shadow price social choice rule social choice theory social cost social welfare function strategy subset Theorem tion uncertainty University Press utilitarian moral code utilitarian players utilitarian society utility function variables vector welfare economics welfare norms