Abstract
Kenneth J. Arrow has made contributions in so many different branches of economic analysis that it is worthwhile identifying which of his many contributions has had the greatest impact.1 The purpose of this chapter is to determine the relative impact of Arrow’s various contributions through a tabulation of his most frequently cited works using the Social Science Citation Index.2 A simple tabulation of frequently cited works reveals, through the choices made by economists with regard to citations, which works have had the greatest impact. The number of citations provides a crude measure of the degree of their impact.3
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References
Arrow, K. J. (1949) (with D. Blackwell and M. A. Girshick) ‘Bayes and Minimax Solutions of Sequential Decision Problems’, Econometrica, 17: 213–44.
Arrow, K. J. (1951a) (2nd edn 1963) Social Choice and Individual Values, (New York: Wiley).
Arrow, K. J. (1951b) ‘An Extension of the Basic Theorems of Classical Welfare Economies’, in J. Neyman (ed) Proceedings of the Second Berkeley Symposium on Mathematical Statistics and Probability (Berkeley: University of California Press).
Arrow, K. J. (1959) ‘Toward a Theory of Price Adjustment’, in M. Abramo-vitz et al, The Allocation of Economic Resources (Stanford: Stanford University Press).
Arrow, K. J. (1962a) ‘The Economic Implications of Learning by Doing’, Review of Economic Studies, 29: 155–73.
Arrow, K. J. (1962b) ‘Economic Welfare and the Allocation of Resources for Invention’, in National Bureau of Economic Research, The Rate and Direction of Inventive Activity: Economic and Social Factors (Princeton: Princeton University Press) (reprinted in Essays in the Theory of Risk-Bearing (1971)).
Arrow, K. J. (1963) ‘Uncertainty and the Welfare Economics of Medical Care’, American Economic Review, 53: 941–73 (reprinted in Essays in the Theory of Risk-Bearing (1971)).
Arrow, K. J. (1963–4) ‘The Role of Securities in the Optimal Allocation of Risk Bearing’, Review of Economic Studies, 31: 91–6, (originally published in French (1953), in Econometrie, Colloques Internationaux du Centre National de la Recherche Scientifique, 11: 41–7 (reprinted in Essays in the Theory of Risk-Bearing (1971)).
Arrow, K. J. (1964) ‘Optimal Capital Policy, the Cost of Capital, and Myopic Decision Rules’, Annals of the Institute of Statistical Mathematics, 16.
Arrow, K. J. (1965) Aspects of the Theory of Risk-bearing, Helsinki: Yrjö Jahnsson Foundation (reprinted in Essays in the Theory of Risk-bearing (1971)).
Arrow, K. J. (1968) ‘Optimal Capital Policy with Irreversible Investment’, in J. N. Wolfe (ed) Value, Capital and Growth (Edinburgh: Edinburgh University Press).
Arrow, K. J. (1971) Essays in the Theory of Risk-Bearing (Amsterdam: North-Holland).
Arrow, K. J. (1972) ‘Models of Job Discrimination’, in A. H. Pascal (ed). Racial Discrimination in Economic Life (Lexington: Lexington Books).
Arrow, K. J. (1973a) ‘Some Ordinalist-Utilitarian Notes on Rawls’s Theory of Justice’, Journal of Philosophy, 70: 245–63.
Arrow, K. J. (1973b) ‘Higher Education as a Filter’, Journal of Public Economics, 2: 193–216.
Arrow, K. J. (1974a) The Limits of Organization (New York: Norton).
Arrow, K. J. (1974b) ‘Limited Knowledge and Economic Analysis’, American Economic Review’, 64: 1–10.
Arrow, K. J. (1983a) Collected Papers of Kenneth J. Arrow, vol. 1: Social Choice and Justice (Cambridge, Mass.: Harvard University Press).
Arrow, K. J. (1983b) Collected Papers of Kenneth J. Arrow, vol. 2: General Equilibrium (Cambridge, Mass.: Harvard University Press).
Arrow, K. J., H. D. Block and L. Hurwicz (1959) ‘On the Stability of the Competitive Equilibrium, II’, Econometrica, 27: 82–109.
Arrow, K. J., H. B. Chenery, B. S. Minhas, and R. M. Solow (1961) ‘Capital-Labor Substitution and Economic Efficiency’, Review of Economics and Statistics, 43: 225–50.
Arrow, K. J. and G. Debreu (1954) ‘Existence of an Equilibrium for a Competitive Economy’, Econometrica, 22: 265–90.
Arrow, K. J. and A. C. Enthoven (1961) ‘Quasi-Concave Programming’, Econometrica, 29: 779–800.
Arrow, K. J. and A. C. Fisher (1974) ‘Environmental Preservation, Uncertainty, and Irreversibility’, Quarterly Journal of Economics, 88: 312–19.
Arrow, K. J. and F. H. Hahn (1971) General Competitive Analysis (San Francisco: Holden-Day).
Arrow, K. J. and L. Hurwicz (1958) ‘On the Stability of the Competitive Equilibrium I’, Econometrica, 26: 522–52.
Arrow, K. J. and L. Hurwicz (1960) ‘Decentralization and Computation in Resource Allocation’, R. W. Pfouts (ed). Essays in Economics and Econometrics (Chapel Hill: University of North Carolina Press).
Arrow, K. J., L. Hurwicz and H. Uzawa (eds) (1958) Studies in Linear and Non-linear Programming (Stanford: Stanford University Press).
Arrow, K. J., S. Karlin and H. Scarf (1958) Studies in the Mathematical Theory of Inventory and Production (Stanford: Stanford University Press).
Arrow, K. J., S. Karlin and P. Suppes (eds) (1960) Mathematical Methods in the Social Sciences, 1959 (Stanford: Stanford University Press).
Arrow, K. J. and M. Kurz (1970) Public Investment, the Rate of Return, and Optimal Fiscal Policy (Baltimore: The Johns Hopkins Press).
Arrow, K. J. and R. C. Lind (1970) ‘Uncertainty and the Evaluation of Public Investment Decisions’, American Economic Review, 60: 364–78 (reprinted in Essays in the Theory of Risk-bearing (1971)).
Arrow, K. J. and Intriligator, M. D. (eds) (1981–5) Handbook of Mathematical Economics, vols 1–3 (Amsterdam: North-Holland).
Intriligator, M. D. (1971) Mathematical Optimization and Economic Theory (Englewood Cliffs, N.J.: Prentice-Hall).
Intriligator, M. D. (1982) ‘The Contributions of Paul A. Samuelson to Economic Analysis’, in G. R. Feiwel (ed) (1982). Samuelson and Neoclassical Economics (Boston: Kluwer Nijhoff).
Weiszacker, C. C. (1972) ‘Kenneth Arrow’s Contributions to Economies’, Swedish Journal of Economics, 74: 488–502.
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© 1987 George R. Feiwel
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Intriligator, M.D. (1987). The Impact of Arrow’s Contribution to Economic Analysis. In: Feiwel, G.R. (eds) Arrow and the Foundations of the Theory of Economic Policy. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-07357-3_31
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DOI: https://doi.org/10.1007/978-1-349-07357-3_31
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