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Kenneth J. Arrow's pathbreaking impossibility theorem was a watershed invation in the history of welfare ecomics, voting theory, and collective choice, demonstrating that there is voting rule that satisfies the four desirable axioms of decisiveness, consensus, ndictatorship, and independence. In this book Eric Maskin and Amartya Sen explore the implications of Arrow's theorem. Sen considers its ongoing utility, exploring the theorem's value and limitations in relation to recent research on social reasoning, and Maskin discusses how to design a voting rule that gets us closer to the ideal-given the impossibility of achieving the ideal. The volume also contains a contextual introduction by social choice scholar Prasanta K. Pattanaik and commentaries from Joseph E. Stiglitz and Kenneth J. Arrow himself, as well as essays by Maskin, Dasgupta, and Sen outlining the mathematical proof and framework behind their assertions.

Product Identifiers

PublisherColumbia University Press

ISBN-100231153287

ISBN-139780231153287

eBay Product ID (ePID)209256550

Product Key Features

Number of Pages160 Pages

Publication NameArrow Impossibility Theorem

LanguageEnglish

Publication Year2014

SubjectEconomics: Professional & General

TypeTextbook

Subject AreaBusiness & Economics, Mathematics, Social Science, Political Science

AuthorAmartya Sen, Eric Maskin

SeriesKenneth J. Arrow Lecture Ser.

FormatHardback

Dimensions

Item Height0.8 in

Item Weight12.6 Oz

Item Length8.7 in

Item Width6.6 in

Height210mm

Width140mm

Weight454g

Additional Product Features

Date of Publication15/08/2014

Intended AudienceScholarly & Professional

Place of PublicationNew York

Spine18mm

Series TitleKenneth J. Arrow Lectures Series

GenreEconomics: Professional & General

Country of PublicationUnited States

Author BiographyEric Maskin is the Adams University Professor at Harvard University. He received the 2007 Nobel Memorial Prize in Economics (with L. Hurwicz and R. Myerson) for laying the foundations of mechanism design theory. He has also contributed to game theory, contract theory, social choice theory, political economy, and other areas of economics. Amartya Sen is the Thomas W. Lamont University Professor and Professor of Economics and Philosophy at Harvard University. In 1998 he was awarded the Nobel Memorial Prize in Economic Sciences, and in 1999 he was awarded the Bharat Ratna, India's highest civilian award. He is also a senior fellow at the Harvard Society of Fellows; distinguished fellow of All Souls College, Oxford; and a Fellow of Trinity College, Cambridge. His books have been translated into more than thirty languages.

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The Arrow Impossibility Theorem by Eric Maskin, Amartya Sen (Hardback, 2014)