Kenneth J. Arrow is the Joan Kenney Professor of Economics Emeritus at Stanford University. Professor Arrow’s honors include the 1972 Nobel Prize in Economics for pioneering contributions to general economic equilibrium theory and welfare theory, and the 1957 John Bates Clark Medal of the American Economic Association. Arrow was a past president of the Econometric Society, the American Economic Association, the Institute of Management Sciences, the Western Economic Association, and the International Economic Association. His professional affiliations also include the National Academy of Sciences, American Academy of Arts and Sciences, the American Association for the Advancement of Science, and the Pontifical Academy of Social Sciences. Professor Arrow is one of the most prominent economists of the twentieth century, making fundamental contributions to many fields including, general equilibrium theory, social welfare theory, and the theory of risk allocation.

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