Download or read book Uncertainty as a Factor in Production written by Edward Alsworth Ross and published by . This book was released on 1896 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Risk Uncertainty and Profit written by Frank H. Knight and published by Cosimo, Inc.. This book was released on 2006-11-01 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.

Download or read book Uncertainty Factors in Real Manufacturing Environment written by Md. Abdul Wazed and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The important part of managing uncertainty is identifying as many sources and factors of uncertainty as possible. The main purposes of this paper are to enhance the understanding of uncertainty - its sources, factors and effects on the system by documenting the current state of affairs. This paper is based on a comprehensive and up-to-date review of the existing literatures on manufacturing under uncertain conditions. The authors have identified the various sources and factors of uncertainty in manufacturing/production environment and adjusted the focus on the techniques and models used to tackle the storms. It is observed that that the combined effects/impacts of the uncertainty factors on the system parameters yet to be nattily studied.

Download or read book The Theory of Price Uncertainty Production and Profit written by Clement Allan Tisdell and published by Princeton University Press. This book was released on 2015-12-08 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Firms and farmers, under pure competition, must make production decisions in the face of price uncertainty. The author has integrated diverse theories of behavior under uncertainty to provide a new framework for his mathematical analysis of the impact of price uncertainty on the behavior of the firm. Drawing upon the work of Knight, Hicks, von Neumann, and Morgenstern, he develops a schema that accounts for a greater diversity of behavior than do existing theories, yet one which yields simple economic theorems of practical value. The conclusions he draws apply to both socialist and capitalist economics. Originally published in 1968. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Download or read book The Implications of Yield Uncertainty and Behavioral Factors on Production and Inventory Management written by 袁振南 and published by . This book was released on 2020 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Rethinking Production Under Uncertainty written by John H. Cochrane and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Conventional models of production under uncertainty specify that output is produced in fixed proportions across states of nature. I investigate a representation of technology that allows firms to transform output from one state to another. I allow the firm to choose the distribution of its random productivity from a convex set of such distributions, described by a limit on a moment of productivity scaled by a natural productivity shock. The model produces a simple discount factor linked to productivity, which can be used to price any asset, without regard to preferences.

Download or read book Uncertainty and the Dynamics of R D written by Nick Bloom and published by . This book was released on 2007 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Uncertainty varies strongly over time, rising by 50% to 100% in recessions and by up to 200% after major economic and political shocks. This paper shows that higher uncertainty reduces the responsiveness of R & D to changes in business conditions - a "caution-effect"--Making it more persistent over time. Thus, uncertainty will play a critical role in shaping the dynamics of R & D through the business cycle, and its response to technology policy. I also show that if firms are increasing their level of R & D then the effect of uncertainty will be negative, while if firms are reducing R & D then the effect of uncertainty will be positive.

Download or read book Import Price Uncertainty Production Decisions and Relative Factor Shares written by Ulrich Kohli and published by . This book was released on 1998 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we estimate the effects of import-price uncertainty on factor income in Switzerland. We use the production-theory approach to derive the import demand function from an expected utility maximization problem, treating imports as an input to the technology. The model is also used to test for risk aversion and to assess the impact of uncertainty on the volume of imports and gross output. We find evidence that, for most years, labor has been relatively more vulnerable to uncertainty than capital.

Download or read book Theory of the Firm written by H. Albach and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 359 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book has an objective and a focus. It provides the reader with: • an in-depth acquaintance with the theory of the firm developed by Erich Gutenberg • an insight into a coherent body of current German research in the theory of the firm. The book is divided into two parts. The first part lays the foundations. It presents Gutenberg's theory of the firm to the English speaking reader. Considering the great importance that Erich Gutenberg has had in Germany and taking into consideration the impact that the translations of his path-breaking three volumes "Principles of Management" have had in France, the Spanish speaking countries, and in Japan, it was felt that it was necessary, on the occasion of his tOOth anniversary, to present a concise summary of his contributions to the theory of the firm to an English speaking scientific community. Six papers present Gutenberg's theory in the light of the theoretical advances that he stimulated as well as in the framework of other theoretical developments like capital market theory, transaction cost theory, principal agent theory, and contract theory. The papers show that Gutenberg's theory is highly relevant for theory and highly influential in the practice of management.

Download or read book Uncertainty and Unemployment written by Sangyup Choi and published by International Monetary Fund. This book was released on 2015-02-23 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the role of uncertainty shocks in explaining unemployment dynamics, separating out the role of aggregate and sectoral channels. Using S&P500 data from the first quarter of 1957 to third quarter of 2014, we construct separate indices to measure aggregate and sectoral uncertainty and compare their effects on the unemployment rate in a standard macroeconomic vector autoregressive (VAR) model. We find that aggregate uncertainty leads to an immediate increase in unemployment, with the impact dissipating within a year. In contrast, sectoral uncertainty has a long-lived impact on unemployment, with the peak impact occurring after two years. The results are consistent with a view that the impact of aggregate uncertainty occurs through a “wait-and-see” mechanism while increased sectoral uncertainty raises unemployment by requiring greater reallocation across sectors.

Download or read book Ethics and Uncertainty written by William B. Greer and published by Edward Elgar Publishing. This book was released on 2000-01-01 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study explores how two economists, who both placed "uncertainty" at the heart of their economic theories, came to drastically different and opposing policy recommendations. The volume illustrates the important lesson to be learned from Keynes and Knight.

Download or read book The Effect of Uncertainty in the Production Function on the Production Decision of the Firm written by Yakov Amihud and published by . This book was released on 1975 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Great Trade Collapse Causes Consequences and Prospects written by Richard E. Baldwin and published by CEPR. This book was released on 2009 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Production Decisions Under Demand Uncertainty the High low Search Approach written by Steve Alpern and published by . This book was released on 1988 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book A Theory of International Trade Under Uncertainty written by Elhanan Helpman and published by . This book was released on 1978 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Production Uncertainty and Factor Price Disparity in the Slaughter Cattle Market written by Scott Fausti and published by . This book was released on 1994 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Entrepreneurial Action written by Andrew C. Corbett and published by Emerald Group Publishing. This book was released on 2012-07-17 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: Volume 14 addresses the central issue of entrepreneurial action: while many factors are important to the phenomenon of entrepreneurship, entrepreneurship does not happen until someone takes action!