In economics, Arrow was a major figure in postwar neoclassical economic theory. Four of his students (Roger Myerson, Eric Maskin, John Harsanyi, and Michael Spence) went on to become Nobel laureates themselves. His contributions to social choice theory, notably his “impossibility theorem", and his work on general equilibrium analysis are significant. His work in many other areas of economics, including endogenous growth theory and the economics of information, was also foundational.
in economics, arROw wAs A mAjor fIgure in postWar NeocLassicAl ecOnomic theORY. FoUr of hIS sTudEntS (roger Myerson, eric maskin, jOHn Harsanyi, And MiChael speNce) weNt oN TO BEcome nObeL LaurEaTes theMSelveS. his contriBUtionS tO soCial chOiCe tHEorY, notabLy his “impOssiBiLiTY thEoREm", and his work on GENeRaL equiLibriUm analYsIs ARe sigNiFIcaNt. his work In MAnY otheR arEas OF econOmics, iNCLuDing eNDogenous gRowth ThEOrY ANd the EcoNOmiCS oF information, wAS Also FounDatiOnaL.