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

Type
Book
Authors
ISBN 10
1138611174 
ISBN 13
9781138611177 
Category
Unknown  [ Browse Items ]
Edition
Publication Year
2018 
Publisher
Pages
213 
Tags
 
Abstract
 
Description
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. - from Amzon 
Biblio Notes
 
Number of Copies

REVIEWS (0) -

No reviews posted yet.

WRITE A REVIEW

Please login to write a review.