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Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Risk, Uncertainty, and Profit

Risk, Uncertainty, and Profit

Paperback

Business GeneralEconomicsTechnology & Engineering

ISBN10: 0984061428
ISBN13: 9780984061426
Publisher: Createspace
Published: Aug 26 2009
Pages: 260
Weight: 1.15
Height: 0.55 Width: 8.00 Depth: 10.00
Language: English
Frank Knight's famous dissertation Risk, Uncertainty and Profit (1921) remains one of the most interesting reads in economics even today. In it, Knight made his famous distinction between risk (randomness with knowable probabilities) and uncertainty (randomness with unknowable probabilities), set forth the role of the entrepreneur in a distinctive theory of profit and gave one of the earliest presentations of the now-famous law of variable proportions in the theory of production.This work is a must-read for any serious student of economics.

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