(DOWNLOAD) "Cost, Uncertainty and Welfare" by Stephan John Nash * Book PDF Kindle ePub Free
eBook details
- Title: Cost, Uncertainty and Welfare
- Author : Stephan John Nash
- Release Date : January 17, 2018
- Genre: Social Science,Books,Nonfiction,Sociology,
- Pages : * pages
- Size : 1236 KB
Description
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.
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