Risk, Uncertainty and Profit

Risk, Uncertainty and Profit

Author: Frank H. Knight

Publisher: Cosimo, Inc.

Published: 2006-11-01

Total Pages: 401

ISBN-13: 1602060053

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A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.


Protean Power

Protean Power

Author: Peter J. Katzenstein

Publisher: Cambridge University Press

Published: 2018-01-18

Total Pages: 383

ISBN-13: 1108425178

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Mainstream international relations continues to assume that the world is governed by calculable risk based on estimates of power, despite repeatedly being surprised by unexpected change. This ground breaking work departs from existing definitions of power that focus on the actors' evolving ability to exercise control in situations of calculable risk. It introduces the concept of 'protean power', which focuses on the actors' agility as they adapt to situations of uncertainty. Protean Power uses twelve real world case studies to examine how the dynamics of protean and control power can be tracked in the relations among different state and non-state actors, operating in diverse sites, stretching from local to global, in both times of relative normalcy and moments of crisis. Katzenstein and Seybert argue for a new approach to international relations, where the inclusion of protean power in our analytical models helps in accounting for unforeseen changes in world politics.


Entrepreneurial Action

Entrepreneurial Action

Author: Andrew C. Corbett

Publisher: Emerald Group Publishing

Published: 2012-07-17

Total Pages: 327

ISBN-13: 1780529015

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Volume 14 addresses the central issue of entrepreneurial action: while many factors are important to the phenomenon of entrepreneurship, entrepreneurship does not happen until someone takes action!


Theory of International Trade

Theory of International Trade

Author: Avinash K. Dixit

Publisher: Cambridge University Press

Published: 1980-09-30

Total Pages: 352

ISBN-13: 9780521299695

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This book emphasizes that a trading equilibrium is general rather than partial, and is often best modeled using dual or envelope functions.


A Theory of International Trade Under Uncertainty

A Theory of International Trade Under Uncertainty

Author: Elhanan Helpman

Publisher: Academic Press

Published: 2014-05-10

Total Pages: 203

ISBN-13: 148327151X

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A Theory of International Trade Under Uncertainty analyzes international trade in goods and securities in the presence of uncertainty using an integrated general equilibrium framework that recognizes the dependence of markets for goods on financial markets and vice versa. The usefulness of this approach is demonstrated by means of applications to questions such as the effects of international trade on resource allocation, tariff policy, and intervention in financial capital markets. Results which are important for theoretical as well as policy oriented applications are presented. Comprised of 11 chapters, this volume begins with an introduction to some of the fundamental elements of the deterministic Ricardian and Heckscher-Ohlin theories of international trade. Relevant elements from the theory of decision making under uncertainty are then discussed, along with the behavior of firms and consumers-investors in an economy with stock markets. Subsequent chapters focus on problems of commercial policy; gains from trade in goods and securities; and issues of intervention in financial capital markets. The book concludes by describing a dynamic model of international trade that contains an infinite horizon and takes into account the trade-off between present period consumption and savings. An example that illustrates an equilibrium structure of the dynamic model is presented. This monograph is intended for economists who are interested in international trade or international finance, including graduate students who specialize in these fields.


The Multinational Enterprise and the Emergence of the Global Factory

The Multinational Enterprise and the Emergence of the Global Factory

Author: Peter J. Buckley

Publisher: Springer

Published: 2014-11-04

Total Pages: 290

ISBN-13: 1137402385

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The Multinational Enterprise and the Emergence of the Global Factory brings together research papers authored by Peter J. Buckley, focusing on three of the most important empirical and theoretical issues in the global economy: the rise of the 'global factory'; the growth of FDI from emerging economies; recent developments in the theory of IB.


Intra-industry Trade

Intra-industry Trade

Author: Peter John Lloyd

Publisher: Edward Elgar Publishing

Published: 2003

Total Pages: 584

ISBN-13:

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This authoritative new collection presents a selection of previously published seminal articles that have led to the development of intra-industry trade theory and empirical research. Parts I and II cover the pioneering research in the 1960s and a number of models of intra-industry trade that were developed from 1979 to the present day. Parts III and IV look at the empirical research problems in the choice of measure of intra-industry trade and empirical studies that seek to identify the nature of this trade. Part V deals with the role of the multinational corporation and part VI completes the collection with articles that look at extensions to asset markets and applications to other problems such as the geography of trade and rules of origin. Intra-Industry Trade will be an invaluable source of reference to all international trade economists and libraries specialising in this area.