This paper interprets Knight’s views of the firm from the standpoint of his theory of human agency. Focusing on the coordination perspective, this paper argues that Knightian firms are institutions which deal with intersubjective uncertainty. The fundamental principle underlying an organized...

1 Taiwan's Economic Development: The Role of Entrepreneurship and its Incubating Factors (with Ho-Don Yan and Shan-Yu Chen) -- 2 A Model of a Small Family Business in Taiwan -- 3 Uncertainty, Learning and Error Elimination: Taiwanese Entrepreneurs in Mainland China -- 4 Taiwan's Entrepreneurs...

This topical book interprets firms, governments and economic change from an entrepreneurial perspective. Essentially, it applies the Austrian theory of human agency and evolutionary theories of the firm to explain economic organisation, the state and institutional change. Tony Yu begins by...

This paper discusses Frank H. Knight's thought under three major themes, namely subjectivism, interpretation and social economics. Knight's economics starts with a conscious mind construct which is able to infer under partial knowledge. Conscious human action is purposive, forward looking and...