American economist, born in New York on August 23, 1921, winner of the Nobel Prize in economics in 1972, along with the British Sir John r. Hicks, by his theory of general economic equilibrium and well-being.
He began his studies at the City College of New York, in 1940 where he/she earned the degree of Bachelor in social sciences and then entered Columbia University to study economics. During the second world war he/she served in the army as a captain of the air force meteorology unit.
In 1946, he/she resumed his studies at Columbia University, completed after at the University of Chicago (1948-1949), where he/she was hired as Assistant Professor of economics. In its new destination, he/she was part of the Cowles Commission for economic research, a team of young economists led by Tjalling C. Koopmans, pioneer of econometrics and who decisively influenced Arrow.
Between 1949 and 1968 he/she worked at Stanford University, first as an Assistant Professor and, later, as Chief of the Department of Economics and statistics, between 1953 and 1956, and in 1962-1963; He/She was also a member of the team of research in social sciences (1952) and the Institute of advanced studies in the Behavioral Sciences (1956-1957).
In 1962, he/she was part of the Government Council of economy and a year later was appointed member of Churchill College, Cambridge. Between 1968 and 1979 he/she worked at the University of Harvard (which introduced their new methods for developing economic theory), and in 1979 he/she returned to Stanford.
In 1971 was appointed Doctor in social and economic sciences by the University of Vienna. Belonged to several institutions and professional associations, including the econometric society, who chaired in 1956; the National Academy of Sciences; the American Economic Association, which, in 1957, awarded him the John Bates Clark Medal; the American Academy of Arts and Sciences; the American Philosophical Society; and the American Statistical Association.
His most important works are Social Choice and Individual Values (1951), translated to Spanish as social choice and values individual; Essays in the Theory of Risk Bearing (1971); General competitive analysis (1971); The Limits of Organization (1974); General equilibrium (1983); Social Choice and Justice (1983); The economics of information (1984); Individual choice under certainty and uncertaint (1984); Social choice and multicriterion decision-making (1986); and positive political theory (1991) readings.