Risk, Uncertainty and Profit

ISBN 13: 9780486447759

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Author Frank H Knight
Format Paperback
No. of Pages 448
Brand: Dover Publications

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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.

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