Kenneth J. Arrow

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Kenneth J. Arrow was a prominent American economist known for his significant contributions to the fields of general equilibrium theory and social choice theory. He was awarded the Nobel Prize in Economic Sciences in 1972 for his pioneering work in the theory of markets and the ways in which individual preferences can be aggregated into collective decisions. His influential book, "Social Choice and Individual Values," introduced the Arrow's impossibility theorem, which highlights the challenges of creating a fair voting system that reflects the preferences of individuals.