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Subject Area: Economics

Frank H. Knight, Risk, Uncertainty, and Profit [1921]

Edition used:

Risk, Uncertainty, and Profit (Boston MA: Hart, Schaffner and Marx; Houghton Mifflin, 1921).


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About this title:

This careful work investigating the nature of profits also includes material on the institutional structure of firms and the distribution of residuals, particularly in Part III, Chapter IX-X. It contains an interesting discussion of the difference between risk and uncertainty.

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