Kenneth J. Arrow is a professor of economics at Stanford University. In 1972, he won the Nobel Prize in economics jointly with Sir John Hicks.

He is best known for his Phd dessertation in which he proves his famous "Impossibility Theorem", which states that under certain assumptions regarding people's preferences, it is impossible to find a voting rule under which one option emerges as the most preferred. He was among the first economists to note the existence of the learning curve.

According to Arrow,"...most individuals underestimate the uncertainty of the world. Vast ills have followed a belief in certainty, whether historical inevitability, grand diplomatic designs, or extreme views on economic policy."

Works by Kenneth J. Arrow:

• The Economic Implications of Learning by Doing
  
• Essays in the Theory of Risk-Bearing
  
• Existence of a Competitive Equilibrium for a Competitive Economy
  
• General Competitive Analysis
  
• Social Choice and Individual Values
  

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