Items related to Cost, Uncertainty and Welfare: Frank Knight's Theory...

Cost, Uncertainty and Welfare: Frank Knight's Theory of Imperfect Competition (Routledge Revivals) - Hardcover

Nash, Stephan John

 
9781138611177: Cost, Uncertainty and Welfare: Frank Knight's Theory of Imperfect Competition (Routledge Revivals)
Hardcover
ISBN 10: 1138611174 ISBN 13: 9781138611177
Publisher: Routledge, 2018

Synopsis

First published in 1998. This work contributes to the discussion of Knight by showing that uncertainty broadens the conception of economic welfare, and that a new cost analysis holds the key to unlocking the Knightian corpus. It develops Knight's suggestion that uncertainty-control costs can be reduced - arguing that the large firm enjoys economic rent from utilizing its dominant vantage point in the market. The author demonstrates that while Knight provides the intellectual stimulus which propelled Chamberlin's thesis of monopolistic competition, Chamberlin uses a very abstract form of uncertainty in his analysis.

"synopsis" may belong to another edition of this title.

About the Author

Stephan John Nash

"About this title" may belong to another edition of this title.

Publisher
Routledge
Publication date
2018
Language
English
ISBN 10 
1138611174
ISBN 13 
9781138611177
Binding
Hardcover
Edition number
1
Number of pages
214