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Risk, Uncertainty, and Profit is a book about economics, and the distinction between risk and uncertainty. Knight defined uncertain situations as those in which the outcome was unknowable, whereas risky situations were those in which the outcome was determined by probability distributions that could be evaluated at the outset. The book is divided into twelve chapters, each of which focuses on a different aspect of Knight's theory. Specific chapters are devoted to the place of profit and uncertainty in economic theory, the theory of choice and exchange, structures and measured for meeting uncertainty, and the social aspects of uncertainty, amongst other topics.
Frank Knight was a talented economist and a skilled writer. His work in Risk, Uncertainty, and Profit surely marks the highpoint of his career and serves as the clearest declaration of his economic philosophies. Both the layman and the keen student of economics will find much to appreciate in this work. Knight spent much of his academic career at the University of Chicago and this title builds on the work Knight completed for his Ph.D. dissertation.
Risk, Uncertainty, and Profit is a thoughtful and influential treatise on the subjects of risk and uncertainty. Knight's work should be considered a must read for passionate students of economics, as well as any individual curious about how the economy functions on both a macro and micro level.
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Risk, Uncertainty and Profit (Classic Reprint)
Da: PBShop.store US, Wood Dale, IL, U.S.A.
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PAP. Condizione: New. New Book. Shipped from UK. Established seller since 2000. Codice articolo LW-9781440084720
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Risk, Uncertainty and Profit (Classic Reprint)
Da: PBShop.store UK, Fairford, GLOS, Regno Unito
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PAP. Condizione: New. New Book. Shipped from UK. Established seller since 2000. Codice articolo LW-9781440084720
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Risk, Uncertainty and Profit (Classic Reprint)
Print on DemandDa: Forgotten Books, London, Regno Unito
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Paperback. Condizione: New. Print on Demand. This book delves into the complex world of economics, exploring the role of "profit" and "uncertainty" within the framework of a competitive market. Challenging the notion that economic principles can be applied universally without adjustments, the author argues for a nuanced understanding of how these laws operate in the real world. Through a critical examination of existing theories of profit, the author sheds light on the crucial distinction between "risk" as a measurable probability and "uncertainty" as something inherently unquantifiable. This distinction forms the foundation for a deeper analysis of the dynamics of free enterprise and the factors that contribute to the persistent gap between theoretical ideals and actual economic outcomes. By delving into the structures and methods employed to navigate uncertainty, the book reveals the critical role of the entrepreneur in assuming risk and driving economic progress. The author further examines the social implications of uncertainty and profit, questioning the distribution of control and responsibility within the current system. Ultimately, this book offers a thought-provoking exploration of the inherent complexities and limitations of a competitive economic order, prompting us to re-evaluate our expectations and consider the true costs and benefits of uncertainty in shaping our economic reality. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Codice articolo 9781440084720_0
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RISK UNCERTAINTY & PROFIT (CLA
Da: moluna, Greven, Germania
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Condizione: New. KlappentextrnrnRisk, Uncertainty, and Profit is a book about economics, and the distinction between risk and uncertainty. Knight defined uncertain situations as those in which the outcome was unknowable, whereas risky situations were those in wh. Codice articolo 2148538091
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Risk, Uncertainty and Profit (Classic Reprint)
Print on DemandDa: Revaluation Books, Exeter, Regno Unito
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Paperback. Condizione: Brand New. 396 pages. 9.00x6.00x0.90 inches. This item is printed on demand. Codice articolo zk1440084726
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