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Click to enlargeRisk, Uncertainty and Profit

Frank H. Knight
Our Price$16.95New!(Table of Contents)
Availability: In Stock
ISBN: 0486447758
Page Count: 448
Dimensions: 5 3/8 x 81/2
This revolutionary work taught the world how to systematically distinguish between risk — randomness with knowable probabilities — and uncertainty — randomness with unknowable probabilities — in order to accurately and properly ascertain a venture's potential profitability. Knight's methodology served as the foundation of the Chicago School of Economics.
Republication of the Houghton Mifflin Company, New York, 1921 edition.

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