Wednesday, August 21, 2013
Prompt For Blog Post Due Friday September 6 at Noon
In this first post I'd like you to write something about the economist from whom your alias has been derived - a bio sketch if you will. My preference is for you to find a source other than Wikipedia. If you can find multiple other sources, all the better. If you can find a photo of the person, include that. Include why this person's work is important, whether you knew about the person before you were assigned this alias, and whether the person's work is relevant for the economics to be discussed in our course. Please note that this post is meant mainly as an ice breaker and to verify that you can get your blog to work, so don't stress out too much on the content otherwise.
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Kenneth Arrow was thought to be the same as other economists in that he studied for the advancement of economic theory. He studied several fields in economics. Arrow wrote various scientific publications. Most of Arrow’s work however was contributed to the fundamental problems of economic theory. For example, he studied closely general competition equilibrium and welfare economics. This could be related to the first homework assignment when working on general equilibrium. We were asked to find the competitive equilibrium for a question. Arrow’s biggest contribution is his contribution to many fields of research. With these he was able to make clear and convincing concepts. Some examples of his work are “Social Choice and Individual Values”, his publication on the economics of uncertainty and “Economic Implications of Learning by doing”. Before this short bio of Kenneth Arrow, I had yet to know of such contributions to the general knowledge of economic theory and welfare.
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