"My research, even before 1972, moved in directions beyond those cited for the Nobel Memorial Prize. Most of it, in one way or another, deals with information as an economic variable, both as to its production and as to its use"
- Kenneth Joseph Arrow
About this Quote
Kenneth Joseph Arrow's quote suggests that his research study prior to 1972 was focused on the economic ramifications of information. He was interested in how information is produced and utilized, and how it impacts the economy. He was most likely exploring the idea of details economics, which is the study of how info affects financial decisions and outcomes. His research study was likely ahead of its time, as the Nobel Memorial Prize in 1972 was awarded for work associated to the financial implications of info. Arrow's quote implies that his research study was advanced than the work that was acknowledged by the Nobel Memorial Prize, which he was exploring the financial ramifications of info in greater depth.
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