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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 … price theory that seriously engages the study of institutions; and it adds new evidence and nuance to ongoing debates about …
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Property rights are the rules governing ownership in society. This Element offers an analytical framework to understand the origins and consequences of property rights. It conceptualizes of the political economy of property rights as a concern with the follow questions: What explains the origins...
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