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Cost, Uncertainty and Welfare - Frank Knight's Theory of Imperfect Competition (Hardcover) Loot Price: R3,577

Discovery Miles 35 770

Repayment Terms: R335 pm x 12*

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

Cost, Uncertainty and Welfare - Frank Knight's Theory of Imperfect Competition (Hardcover)

Stephan John Nash

Series: Routledge Revivals

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Loot Price R3,577 Discovery Miles 35 770 | Repayment Terms: R335 pm x 12*

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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.

General

Imprint:	Routledge
Country of origin:	United Kingdom
Series:	Routledge Revivals
Release date:	July 2018
First published:	1998
Authors:	Stephan John Nash
Dimensions:	229 x 152mm (L x W)
Format:	Hardcover
Pages:	214
ISBN-13:	978-1-138-61117-7
Categories:	Books > Social sciences > Sociology, social studies > Social institutions > General Books > Social sciences > Sociology, social studies > Social issues > General Promotions
LSN:	1-138-61117-4
Barcode:	9781138611177