Category Archives: Arrow

Hayek vs Arrow & Debreu

A visiting Federal Reserve scholar attempts to explicate the difference between Hayek’s explanatory universe and the Arrow-Debreu explanatory universe using the conceptual language / conceptual straight jacket of . . . Arrow and Debreu: Arrow and Debreu showed that allocations … Continue reading

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econ: From Hayek -> Hicks -> Arrow

We know that much of Hick’s work was inspired by Hayek: “I can date my own personal ‘revolution’ rather exactly to May or June 1933. It was like this. It began . . with Hayek. His Prices and Production is … Continue reading

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