Cost, Uncertainty and Welfare

Frank Knight's Theory of Imperfect Competition
1. Auflage 2018
ISBN: 978-1-138-61117-7
Verlag: Routledge

Buch, Englisch, 214 Seiten, Format (B × H): 157 mm x 235 mm, Gewicht: 468 g

Reihe: Routledge Revivals

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.

Autoren/Hrsg.

Nash, Stephan John

Fachgebiete

• Interdisziplinäres Wissenschaften Wissenschaften Interdisziplinär Wirtschafts- und Sozialwissenschaften

Inhaltsverzeichnis

1. Introduction 2. The Knightian Pyramid 3. Intellectual Influences 4. Comparison of Knight with Chamberlin and Robinson 5. Some Policy Implications 6. Conclusion

Über Autor(innen)

Stephan John Nash