Risk, Uncertainty and Profit (Midway Reprint) - Softcover

Knight, Frank Hyneman

Softcover

ISBN 10: 0226446913 ISBN 13: 9780226446912

Publisher: Univ of Chicago Pr, 1985

Synopsis

Knight, Frank Hyneman

About this title

From the Back Cover:

A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read.

About the Author:

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.

About this edition

• Publisher: Univ of Chicago Pr
• Publication date: 1985
• ISBN 10: 0226446913
• ISBN 13: 9780226446912
• Binding: Paperback
• Number of pages: 398