(DOWNLOAD) "Cost, Uncertainty and Welfare" by Stephan John Nash * Book PDF Kindle ePub Free

February 11, 2021

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.