Name: Cost, Uncertainty and Welfare: Frank Knight's Theory of Imperfect Competition
Price: 6858.00 TWD
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Author: Nash, Stephan John
ISBN: 9781138611177

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portada Cost, Uncertainty and Welfare: Frank Knight's Theory of Imperfect Competition

Cost, Uncertainty and Welfare: Frank Knight's Theory of Imperfect Competition

Type

Physical Book

Author

Stephan John Nash

Publisher

Routledge

Language

English

Pages

214

Format

Hardcover

ISBN13

9781138611177

Edition No.

Synopsis "Cost, Uncertainty and Welfare: Frank Knight's Theory of Imperfect Competition"

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.

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Cost, Uncertainty and Welfare: Frank Knight's Theory of Imperfect Competition - Nash, Stephan John

Synopsis "Cost, Uncertainty and Welfare: Frank Knight's Theory of Imperfect Competition"

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