Summary and Info
Much of this book is concerned with the analysis of an idealized, decentralized economy. In particular, it is supposed, in the main, that there is perfect competition and that the choices of economic agents can be deduced from certain axioms of rationality. Only recently has a fairly complete and rigorous examination of this long-developing construction become possible.
More About the Author
Kenneth Joseph "Ken" Arrow (born August 23, 1921) is an American economist, writer, and political theorist.
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