1st Edition
Cost, Uncertainty and Welfare Frank Knight's Theory of Imperfect Competition
By Stephan John Nash
Copyright 1998
213 Pages
by
Routledge
214 Pages
by
Routledge
213 Pages
by
Routledge
Also available as eBook on:
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... Read more
1. Introduction 2. The Knightian Pyramid 3. Intellectual Influences 4. Comparison of Knight with Chamberlin and Robinson 5. Some Policy Implications 6. Conclusion
Biography
Stephan John Nash
