Arrow's Theorem revolutionizes economics, shaping modern finance and societal choices.
Kenneth Arrow revolutionized economics by using math to make economic theories more precise. He created the Arrow Possibility Theorem, which led to social choice theory. Arrow also expanded on Pareto efficiency in economic equilibrium, even with tricky functions. With Gerard Debreu, he developed a model for competitive economic balance, including how prices can clear markets. Arrow's work on securities and commodities helped shape modern finance theory.