Category Archives: Debreu

Hayek vs Arrow & Debreu

Posted on May 4, 2010 by Greg Ransom

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 →

Posted in Arrow, Debreu, Information, Local Knowledge | 5 Comments