Seventh Lecture

The Department of Economics

The Grunberg Lecture Series

Seventh Grunberg Lecture - May 2, 1994

Professor Kenneth J. Arrow Stanford University Nobel Prize in Economics, 1972 (with Sir John Hicks) “Transition of Economic Systems: Speed and Scope” Professor Arrow was cited by the Nobel Committee for his pioneer contributions to general equilibrium theory and to welfare theory. His work on social choice theory and the economics of risk and information have provided a path-braking framework for applied work in both political science and economics in such diverse fields as business decisions, evaluating costs of environmental effects, income distribution, medical insurance, and political decision making. Recently Professor Arrow has been examining issues in the transition from communism to alternative economic organization in Eastern Europe. Some of the books for which he is most noted include Capital Theory and the Rate of Return (1963); Growth Theory: An Exposition (1970); Made in America: Regaining the productive Edge (1989, with M. Dertouzos, R. Lester and the MIT Commission on Industrial Productivity); and The Labor Market as a Social Institution (1990).

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(Click a lecture for more information.)

•      The First Lecture, 1988, Herbert A. Simon (Nobel 1978)
•      The Second Lecture, 1989, William Cooper (Von Neumann Medal 1982)
•      The Third Lecture, 1990, Franco Modigliani (Nobel 1985)
•      The Fourth Lecture, 1991, Richard Cyret
•      The Fifth Lecture, 1992, James Tobin (Nobel 1981)
•      The Sixth Lecture, 1993, Robert Solow (Nobel 1987)
•      The Eighth Lecture, 1995, Lawrence Klein (Nobel 1980)
•      The Ninth Lecture, 1996, Harry M. Markowitz (Nobel 1990)
•      The Tenth Lecture, 1997, Douglas C. North (Nobel 1993)
•      The Eleventh Lecture, 1998, James A. Mirrlees (Nobel 1996)
•      The Twelfth Lecture, 1999, Robert W. Fogel (Nobel 1993)
•      The Thirteenth Lecture, 2000, Herbert A. Simon (Nobel 1977)
•      The Fourteenth Lecture, 2001, Joseph Stiglitz (Nobel 2001)
•      The Fifteenth Lecture, 2002, James A. Heckman (Nobel 2000)
•      The Sixthteenth Lecture, 2004, Vernon L. Smith (Nobel 2002)
•      The Seventeenth Lecture, 2006, Finn Kydland (Nobel 2004)
•      The Eighteenth Lecture, 2008, George Akerlof (Nobel 2001)