Cost, Uncertainty and Welfare: Frank Knight's Theory of Imperfect Competition (Routledge Revivals)
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- 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.
- Copyright:
- 1998
Book Details
- Book Quality:
- Publisher Quality
- ISBN-13:
- 9780429873188
- Related ISBNs:
- 9780429463624, 9781138611177, 9781138611177, 9781138611207, 9781138611207
- Publisher:
- Taylor and Francis
- Date of Addition:
- 06/13/20
- Copyrighted By:
- Stephen John Nash
- Adult content:
- No
- Language:
- English
- Has Image Descriptions:
- No
- Categories:
- Nonfiction, Social Studies, Sociology
- Submitted By:
- Bookshare Staff
- Usage Restrictions:
- This is a copyrighted book.