Kenneth Arrow citáty
Kenneth Arrow
Datum narození: 23. srpen 1921
Datum úmrtí: 21. únor 2017
Kenneth Joseph Arrow byl americký ekonom, matematik, spisovatel a politický teoretik, který v roce 1972 spolu s Johnem Hicksem získal Cenu Švédské národní banky za rozvoj ekonomické vědy na památku Alfreda Nobela. Ve svých 51 letech byl nejmladším člověkem, který tuto cenu získal, a tato hranice ještě nebyla překonána.Je považován za výraznou postavu neoklasické ekonomie. Mnoho jeho studentů také získalo Nobelovu cenu za ekonomii. Nejvýznamněji přispěl do teorie veřejné volby, a to formulováním Arrowova teorému nemožnosti, a do teorie celkové rovnováhy. Mimo jiné se zabýval i teorií endogenního růstu a informační asymetrií.
Citáty Kenneth Arrow
„We will also assume in the present study that individual values are taken as data and are not capable of being altered by the nature of the decision process itself“
Zdroj: 1950s-1960s, Social Choice and Individual Values (1951), p. 7
„There are many other organizations beside the government and the firm. But all of them, whether political party or revolutionary movement, university or church, share the common characteristics of the need for collective action and the allocation of resources through nonmarket methods.“
Zdroj: 1970s-1980s, The Limits Of Organization (1974), Chapter 1, Rationality: Individual And Social, p. 26
„Collective action is a means of power, a means by which individuals can more fully realize their individual values.“
Zdroj: 1970s-1980s, The Limits Of Organization (1974), Chapter 1, Rationality: Individual And Social, p. 16
„Uncertainty means that we do not have a complete description of the world which we fully believe to be true.“
Zdroj: 1970s-1980s, The Limits Of Organization (1974), Chapter 2, Organization And Information, p. 34
„[The decisionmaking role of the firm has progressed from the neoclassical standpoint of profit maximization to sales maximization, utility maximization, and satisficing. From the Operation Research point of view] …the ideal picture is that someone, presumable the firm that hires the operations researcher, hands him, on a silver platter, an objective function. By talking to the engineers, or by looking into a few scientific laws, he determines the policy alternatives available and also the model“
Zdroj: 1970s-1980s, The Economics of Information (1984), p. 55 as cited in: Demetri Kantarelis (2008) " Book Review: Title: Theories Of The Firm 2nd Edition http://www.inderscience.com/books/TOF_american_econ_review.pdf". In: The American economist. Vol 52, Nr 1. p. 117
„Decision theory, as it has grown up in recent years, is a formalization of the problems involved in making optimal choices. In a certain sense — a very abstract sense, to be sure — it incorporates among others operations research, theoretical economics, and wide areas of statistics, among others.“
Zdroj: 1970s-1980s, The Economics of Information (1984), p. 55
„Krugman's whole attack is directed at a statement made neither by Arthur nor by Cassidy. Krugman has not read Cassidy's piece with any care nor has he bothered to review what Arthur has in fact said.“
from Kenneth J. Arrow" http://www.pkarchive.org/cranks/Brian.html"Letter (1998)
1970s-1980s
„Trust is an important lubricant of a social system. It is extremely efficient; it saves a lot of trouble to have a fair degree of reliance on other people's word. Unfortunately this is not a commodity which can be bought very easily. If you have to buy it, you already have some doubts about what you have bought.“
Zdroj: 1970s-1980s, The Limits Of Organization (1974), Chapter 1, Rationality: Individual And Social, p. 23
„In eras when authority or at least specific authorities have been questioned, there is more tendency to examine the roots of and the need for authority. The owl of Minerva flies not in the dusk but in the storm.“
Zdroj: 1970s-1980s, The Limits Of Organization (1974), Chapter 4, Authority And Responsibility, p. 65
„The Austrian a priori dogmatism (von Mises, especially; Hayek, to a lesser degree).“
on question "In your mind, what has been the most misleading theoretical approach in economics?", in Karen Ilse Horn (ed.) Roads to Wisdom, Conversations With Ten Nobel Laureates in Economics (2009)
New millennium
„As is by now well known, attempts to form social judgments by aggregating individual expressed preferences always lead to the possibility of paradox.“
Zdroj: 1970s-1980s, The Limits Of Organization (1974), Chapter 1, Rationality: Individual And Social, p. 25
„While economic theory in general may be defined as the theory of how an economic condition or an economic development is determined within an institutional framework, the welfare theory deals with how to judge whether one condition can be said to be better in some way than another and whether it is possible, by altering the institutional framework, to achieve a better condition than the present one.“
Arrow and Hicks (1972) From Nobel Lectures, Economics 1969-1980, Editor Assar Lindbeck, World Scientific Publishing Co., Singapore, 1992 ( online http://www.nobelprize.org/nobel_prizes/economics/laureates/1972/presentation-speech.html)
1970s-1980s
„I want, however, to conclude by calling attention to a less visible form of social action: norms of social behavior, including ethical and moral codes. I suggest as one possible interpretation that they are reactions of society to compensate for market failures. It is useful for individuals to have some trust in each other's word. In the absence of trust it would become very costly to arrange for alternative sanctions and guarantees, and many opportunities for mutually beneficial cooperation would have to be, foregone.“
Kenneth Arrow, “The Organization of Economic Activity: Issues Pertinent to the Choice of Market versus Non-market Allocation” (1969)
1950s-1960s
„Studying oneself is not the most comfortable of enterprises. One is caught between the desire to show oneself in the best possible light and the fear of claiming more than one’s due.“
in Lives of the Literature, edited by William Breit and Barry T. Hirsch
1970s-1980s
„The purpose of organizations is to exploit the fact that many (virtually all) decisions require the participation of many individuals for their effectiveness.“
Zdroj: 1970s-1980s, The Limits Of Organization (1974), Chapter 2, Organization And Information, p. 33
„The idealist doctrine then may be summed up by saying that each individual has two orderings, one which governs him in his everyday actions, and one which would be relevant under some ideal conditions and which is in some sense truer than the first ordering. It is the latter which is considered relevant to social choice, and it is assumed that there is complete unanimity with regard to the truer individual ordering.“
Zdroj: 1950s-1960s, Social Choice and Individual Values (1951), p. 83
„The choice among these alternatives in any given case depends on the degree of difficulty consumers have in making the choice unaided, and on the consequences of errors of judgment. It its the general social consensus, clearly, that the laissez-faire solution for medicine is intolerable. The certification proposal never seems to have been discussed seriously.“
Kenneth Arrow, "Uncertainty and The Welfare Economics of Medical Care", The American Economic Review(1953)
1950s-1960s
„In an ideal socialist economy, the reward for invention would be completely separated from any charge to the users of information. In a free enterprise economy, inventive activity is supported by using the invention to create property rights; precisely to the extent that it is successful, there is an underutilization of the information.“
Kenneth J. Arrow (1962). "Economic Welfare and the Allocation of Resources for Invention." In: The Rate and Direction of Inventive Activity. Princeton University Press.; cited in: Thrainn Eggertsson, Economic behavior and institutions. 1990. p. 22
1950s-1960s
„Not only is it possible to devise complete models of the economy on hypotheses other than rationality, but in fact virtually every practical theory of macroeconomics is partly so based. The price- and wage- rigidity elements of Keynesian theory are hard to fit into a rational framework, though some valiant efforts have been made. … But if the Keynesian model is a natural target of criticism by the upholders of universal rationality, it must be added that monetarism is no better. I know of no serious derivation of the demand for money from a rational optimization. … The use of rationality in these arguments is ritualistic, not essential.“
1970s-1980s, "Rationality of Self and Others in an Economic System", 1986
