Monopoly as a ‘culture-history fact’: Knight, Menger, and the role of institutions

Frank Knight's theory of monopoly price has received relatively little attention in the literature on Risk, Uncertainty and Profit. We argue that Knight accepted and refined the monopoly price theory of Carl Menger and his followers. Knight highlights the difference between monopoly as an inevi...

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Veröffentlicht in:	Journal of institutional economics 2021-12, Vol.17 (6), p.1049-1064
Hauptverfasser:	Salerno, Joseph T., Dorobat, Carmen Elena, McCaffrey, Matthew C.
Format:	Artikel
Sprache:	eng
Schlagworte:	Economic theory Economics Monopolistic competition Prices Profits Traditions
Online-Zugang:	Volltext
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