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Eric Maskin - The Arrow Impossibility Theorem [2014][A]

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 							Product Details
  Book Title: The Arrow
Impossibility Theorem (Kenneth J. Arrow Lecture Series)	 	
  Book Author: Eric Maskin (Author), Amartya Sen (Author), Kenneth J. Arrow (Contributor), Partha Dasgupta
(Contributor), Prasanta K. Pattanaik (Contributor), Joseph E. Stiglitz (Contributor) 
   Series: Kenneth J. Arrow Lecture Series
   Hardcover: 168 pages
   Publisher:
Columbia University Press (July 22, 2014)
   Language: English
   ISBN-10: 0231153287
   ISBN-13:
978-0231153287
  
  Book Description
  Publication Date: July 22, 2014
  Kenneth Arrow's pathbreaking "impossibility theorem" was
a watershed in the history of welfare economics, voting theory, and collective choice, demonstrating that there is no
voting rule that satisfies the four desirable axioms of decisiveness, consensus, nondictatorship, and independence. In
this book, Amartya Sen and Eric Maskin explore the implications of Arrow's theorem. Sen considers its ongoing utility,
exploring the theorem's value and limitations in relation to recent research on social reasoning, while Maskin discusses
how to design a voting rule that gets us closer to the ideal -- given that achieving the ideal is impossible. The volume
also contains a contextual introduction by social choice scholar Prasanta K. Pattanaik and commentaries from Joseph E.
Stiglitz and Kenneth Arrow himself, as well as essays by Sen and Maskin outlining the mathematical proof and framework
behind their assertions.
  
  Reviews
  Without hyperbole, no postwar intellectual of the first rank has done more good for more people -- above all, many
of the world's poorest -- than Amartya Sen.(Boyd Tonkin The Independent)
 

  What is Arrow's impossibility theorem? Why is it true? What are its implications for democratic decision making?
Is its nihilism justified? These are the kinds of questions addressed in Maskin and Sen's masterful Arrow lectures.
These lectures and the accompanying essays provide an accessible introduction to Kenneth J. Arrow's theorem for the
neophyte and much food for thought for the cognoscente.(John A. Weymark, Vanderbilt
University)
  
  How vital it is to understand the ideas behind Kenneth J. Arrow's impossibility
theorem if we want to design reasonably fair ways of coming to consensus decisions that take equitable account of
individual preferences. This book is a marvelous introduction to the theorem, a keystone in the theory of social choice.
We are treated to a discussion of that theory -- its origin, background, and the challenges it points to -- by some of
its great architects.
  (Barry Mazur, Harvard University, author of Imagining
Numbers)
  
  The pioneers of social choice theory give us lively, enjoyable, and stimulating
lectures and exchanges of ideas. Their views, more than sixty years after the publication of Kenneth J. Arrow's theorem,
are of paramount interest to anyone aware of the difficulties of collective decisions.(Marc
Fleurbaey, Princeton University)
  
  About the Authors
  Eric Maskin is the Adams University Professor at Harvard University. He
received the 2007 Nobel Memorial Prize in Economics (with L. Hurwicz and R. Myerson) for laying the foundations of
mechanism design theory. He has also contributed to game theory, contract theory, social choice theory, political
economy, and other areas of economics.
  Amartya Sen is the Thomas W. Lamont
University Professor and Professor of Economics and Philosophy at Harvard University. In 1998 he was awarded the Nobel
Memorial Prize in Economic Sciences, and in 1999 he was awarded the Bharat Ratna, India's highest civilian award. He is
also a senior fellow at the Harvard Society of Fellows; distinguished fellow of All Souls College, Oxford; and a Fellow
of Trinity College, Cambridge. His books have been translated into more than thirty languages. 						

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