How Long to Read Risk Uncertainty and Profit

How Long Does it Take to Read Risk Uncertainty and Profit?

It takes the average reader 6 hours and 40 minutes to read Risk Uncertainty and Profit by Frank Knight

Assuming a reading speed of 250 words per minute. Learn more

Description

In Risk, Uncertainty and Profit, Frank Knight explored the riddle of profitability in a competitive market: profit should not be possible under competitive conditions, as the entry of new entrepreneurs would drive prices down and nullify margins, yet evidence abounds of competitive yet profitable markets. To explain this seeming paradox, Knight uncovers the distinction between calculable risk and essentially unknowable uncertainty. Knight argued that risk stems from repeated events, which therefore allow probabilities to be calculated and factored into decisions, as for instance insurers do. Uncertainty however, stems from events that are unpredictable and as such cannot be prepared against. According to Knight, it is the interplay between risk and uncertainty on the one hand and competition between incumbent and new entrepreneurs that accounts for the enormous variation in profitability across firms and, for the same firms, over time. His insights on the sources of profit have been instrumental in shaping modern economic theory and to the development of a useful understanding of probability. This New Edition has been typeset with modern techniques and contains a newly compiled Index of important topics. It has been painstakingly proofread to ensure that it is free from errors and that the content is faithful to the original.

How long is Risk Uncertainty and Profit?

Risk Uncertainty and Profit by Frank Knight is 400 pages long, and a total of 100,000 words.

This makes it 135% the length of the average book. It also has 122% more words than the average book.

How Long Does it Take to Read Risk Uncertainty and Profit Aloud?

The average oral reading speed is 183 words per minute. This means it takes 9 hours and 6 minutes to read Risk Uncertainty and Profit aloud.

What Reading Level is Risk Uncertainty and Profit?

Risk Uncertainty and Profit is suitable for students ages 12 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Risk Uncertainty and Profit?

Risk Uncertainty and Profit by Frank Knight is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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