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Kenneth Arrow

Title:	Professor Emeritus
Department(s):	Economics, Management Science and Engineering
E-mail:	arrow@stanford.edu

Research Statement

Research Interests: Economics of information and organization, collective decision-making, general equilibrium theory, environment and growth. Current Research: Information and communication in the economy, environment and growth, equilibrium under monopolistic competition, income distribution.

Research Projects
Measurement of wealth in imperfect economies

Summary: Measurement of wealth in imperfect economies Detail: The aim is a comprehensive accounting for wealth of different nations, where wealth is interpreted comprehensively, i.e., anything which affects the possibilities for consumption in the near and far futures. The issue is complicated by the fact that many forms of wealth are not supplied in the market. These include the supply of ecosystem resources, including the atmosphere as a sink for greenhouse gases, the depletion of mineral resources, the supply of human capital in the form of education, and the increasing health in the population, which is both a source of productivity and a good in itself. At the moment, I am concentrating on the evaluation of oil resources from a more sophisticated point of view than is current. [Close Box] Summary: [Close Box]
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Membership in National Academies

American Academy of Arts and Sciences, Institute of Medicine, National Academy of Sciences

Academic Honors & Awards

Nobel Prize, Economics, 1972 National Medal of Science, 2004

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