Risk, Uncertainty And Profit - Brossura

Knight, Frank Hyneman

Brossura

ISBN 10: 0486447758 ISBN 13: 9780486447759

Casa editrice: Dover Pubns, 2006

Riassunto

One of the twentieth century's most influential economics texts, Risk, Uncertainty and Profit provided the theoretical basis of the entrepreneurial American economy during the post-industrial era. This revolutionary work taught the world how to systematically distinguish between risk (randomness with knowable probabilities), and uncertainty (randomness with unknowable probabilities), in order to accurately and properly ascertain a venture's potential profitability.
Author Frank H. Knight's methodology served as the foundation of the Chicago School of Economics, maintaining that competition in a free market economy is the best method for achieving economic health. In this 1921 book, Knight explains why perfect competition would not necessarily eliminate profits, because of "uncertainty," rather than "risk." He contends that even in long-run equilibrium, entrepreneurs would earn profits as a return for their toleration of uncertainty. Knight's reasoning remains valid in the twenty-first century, and his definitions of risk and uncertainty continue to be taught in modern economics classes.
Sociologist Edward Shils declared Risk, Uncertainty and Profit "a brilliant book," noting its interest not only to economists but also to social philosophers, sociologists, game theorists, and other specialists in social science.

Su questo libro

L'autore:

FRANK H. KNIGHT (1885-1972) was a graduate of the University of Tennessee where he received a Bachelor of Science degree and a Master of Arts degree. He then pursued his doctorate in Economics at Cornell University, studying under Professors Alvin Johnson and Allyn Young. This was where he completed his dissertation Cost, Value and Profit in 1916 which formed the basis of his later book Risk, Uncertainty, and Profit. Knight then joined the faculty of the University of Chicago where he eventually became chair of the Department of Economics. In this role, Knight was an early leader of what came to be known as the "first" Chicago school of economics. He was a prolific writer and had a great deal of influence on a generation of economists.

Contenuti:

Preface to the First Edition Preface to the 1933 Edition Preface to the 1948 Edition Preface to the 1957 Edition Part One: Introductory I. The Place of Profit and Uncertainty in Economic Theory II. Theories of Profit; Change and Risk in Relation to Profit Part Two: Perfect Competition III. The Theory of Choice and of Exchange IV. Joint Production and Capitalization V. Change and Progress with Uncertainty Absent VI. Minor Prerequisites for Perfect Competition Part Three: Imperfect Competition Through Risk and Uncertainty VII. The Meaning of Risk and Uncertainty VIII. Structures and Methods for Meeting Uncertainty IX. Enterprise and Profit X. Enterprise and Profit. The Salaried Manager XI. Uncertainty and Social Progress XII. Social Aspects of Uncertainty and Profit Index

Su questa edizione

• Editore: Dover Pubns
• Data di pubblicazione: 2006
• ISBN 10: 0486447758
• ISBN 13: 9780486447759
• Rilegatura: Copertina flessibile
• Numero di pagine: 381