In 1963 and later papers, I pointed out that the special market chara… — Kenneth Joseph Arrow

In 1963 and later papers, I pointed out that the special market characteristics of medical care and medical insurance could be explained by reference to differences in information among the parties involved.

Kenneth Joseph ArrowEconomist · American · b. 1921

More from Kenneth Joseph Arrow

I am really only interested in new information, not freelance opinion. I don't really care what you think off the top of your head. — Tucker Carlson
Grief can take care if itself, but to get the full value of a joy you must have somebody to divide it with. — Mark Twain
As a general rule, the most successful man in life is the man who has the best information. — Benjamin Disraeli
My graduate study was interrupted, like that of many others, by World War II. — Kenneth Joseph Arrow
My undergraduate education, at the City College in New York, was made possible only by the existence of that excellent free institution and the financial sacrifices of my parents. — Kenneth Joseph Arrow
My assignment was exclusively in the research field, and my first published paper, On the Optimal Use of Winds for Flight Planning, was the outgrowth of that work. — Kenneth Joseph Arrow