Salerno, Joseph T.; Dorobat, Carmen-Elena; McCaffrey, … - 2021
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 …