Titlebook: Arrow and the Foundations of the Theory of Economic Policy; George R. Feiwel (Alumni Distinguished Service Pro Book 1987 George R. Feiwel

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https://doi.org/10.1007/978-0-387-38179-4the fact that the associated congestion causes disutility, through delays, crowding, etc. Second, we investigate formally the . of the peak-pricing solution,. comparing it with uniformity of pricing in all periods — an issue that has disturbed observers outside our profession, but that economists ha

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https://doi.org/10.1007/978-0-387-38179-4n individual welfare functions (Arrow 1951, p. 5). In contrast with Arrow’s pathbreaking theoretical work, this chapter will deal with some attempts to empirically specify individual welfare functions. These attempts are close to Levy and Guttman (1975) (which mentions Guttman’s previous work (1971)

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https://doi.org/10.1007/978-0-387-38179-4The last paragraph of Kenneth Arrow’s Nobel Lecture is characteristic of the man:

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https://doi.org/10.1007/978-0-387-38179-4In this chapter, I propose to revisit the concept and the analysis of the ., a subject with which numerous authors have dealt, and to which I devoted twelve papers between 1958 and 1981.1 I feel I owe the reader some explanation why this thirteenth paper was written.

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https://doi.org/10.1007/978-0-387-38179-4It is easy to contribute a chapter to a volume honouring Kenneth Arrow: there is hardly an area of concern to modern economic theory where he has not had fundamental insights. This chapter picks up on two themes on which he made early and important contributions.