… The case for a new theory of how markets really work … April 14, 2026 | Research … economy. In this simple model, unsold production has no value to the firm. For services, this is a reasonable … The Invisible Hand Discussion Paper (Mar 2026) Related publications Pricing And Production Without The Invisible …

… New Theory Challenges The Economic Value Of Secrecy … January 8, 2026 | Research Brief New … Expected Utility Discussion Paper (Dec 2025) Related publications Information Without Rents: Mechanism Design …

… Theorem” is recognized as a cornerstone of economic theory and political science. Long before the theorem … in his classic book, Administrative Behavior . Arrow & Debreu (1954): "Existence of an Equilibrium for a Competitive … invented the "Social Cost of Carbon," the actual dollar value used by the EPA to calculate the impact of …

… Foundation professor to replace the departing Gerard Debreu. The Cowles Foundation — devoted to the development … most famous discovery is the Scarf algorithm.  Arrow and Debreu had proved that the equations describing economic … decision makers, Scarf turned to cooperative game theory and the concept of the core to explain what choices …

… winners of the  2018-20 Tjalling C. Koopmans Econometric Theory Prize were announced in the August 2021 issue of Econometric Theory by the journal editor and Cowles research staff … articles appear in the October 2020 issue of Econometric Theory. An excerpt from the journal advisory …

… interests were in mathematical economics, cooperative game theory, applied general equilibrium analysis, and … Among many contributions, he will be remembered for the Debreu-Scarf Theorem, showing that the set of core … Among many contributions, he will be remembered for the Debreu-Scarf Theorem, showing that the set of core …

… of the greatest GE theorists were Kenneth Arrow and Gérard Debreu, both of whom were Cowles research staff members and … one way to do so. “General equilibrium theory has become one of the standard methodologies in macro … of the greatest GE theorists were Kenneth Arrow and Gérard Debreu, both of whom were Cowles research staff members and …

… , the audience member wanted to know, do we even need game theory? “You wouldn’t get that question today,” says … economists, most prominently Kenneth Arrow and Gérard Debreu (both longtime associates of the Cowles Commission in … economists, most prominently Kenneth Arrow and Gérard Debreu (both longtime associates of the Cowles Commission in …

… and experience within a labor force that creates economic value for a firm or country — pioneered by economists Gary … Mincer.   “I felt there was not nearly enough study of the value of different kinds of education,” Altonji said. In the … late 1980s and early 1990s, Altonji began examining the value of different high-school courses.  “I made some …