Renewing Knightian Uncertainty: A Pragmatic Prospectus and Demonstration

15 Pages Posted: 22 Jun 2021

See all articles by Amar Bhide

Amar Bhide

Tufts University - The Fletcher School of Law and Diplomacy

Date Written: June 15, 2021

Abstract

Frank Knight distinguished between 'uncertainty' and 'risk' to specify the true nature of 'profit’, but his specification never caught on and I do not see realistic possibilities for renewing research in this direction. Using uncertainty to analyze the organization and conduct of contemporary entrepreneurial activity offers more promising prospects.

Suggested Citation

Bhide, Amar, Renewing Knightian Uncertainty: A Pragmatic Prospectus and Demonstration (June 15, 2021). Harvard Business School Research Paper Series No. 21-129, Available at SSRN: https://ssrn.com/abstract=3868219 or http://dx.doi.org/10.2139/ssrn.3868219

Amar Bhide (Contact Author)

Tufts University - The Fletcher School of Law and Diplomacy ( email )

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