Kenneth Arrow Quotes
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.
Citations
Arrow, Kenneth J. "Kenneth J. Arrow - Biographical." NobelPrize.org, Nobel Prize Outreach AB, 2005.
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Kenneth Joseph Arrow was an American economist, mathematician, writer, and political theorist. He was the joint winner of the Nobel Memorial Prize in Economic Sciences with John Hicks in 1972.