Knight's 'Moral Hazard' Theory of Organization.
In this paper the author suggests that besides Frank Knight's well recognized "uncertainty" explanation of the firm, he had another one. "Moral hazard" is the central feature in the second, largely overlooked theory. The author argues, and attempts to document, that this theory is not a chance excursion but is rather quite well developed by Knight. Copyright 1987 by Oxford University Press.
Year of publication: |
1987
|
---|---|
Authors: | Barzel, Yoram |
Published in: |
Economic Inquiry. - Western Economic Association International - WEAI. - Vol. 25.1987, 1, p. 117-20
|
Publisher: |
Western Economic Association International - WEAI |
Saved in:
Saved in favorites
Similar items by person
-
Steve Cheung in Seattle, 1969–1982
Barzel, Yoram, (2016)
-
Celebrating Fifty Years to Cheung's Theory of Share Tenancy
Barzel, Yoram, (2018)
-
Productivity change, public goods and transaction costs : essays at the boundaries of microeconomics
Barzel, Yoram, (1995)
- More ...