Risk, Uncertainty and Profit

Know about the book -

Risk, Uncertainty and Profit is written by Frank H. Knight and published by Courier Corporation. It's available with International Standard Book Number or ISBN identification 0486447758 (ISBN 10) and 9780486447759 (ISBN 13).

This revolutionary work taught the world how to systematically distinguish between risk — randomness with knowable probabilities — and uncertainty — randomness with unknowable probabilities — in order to accurately and properly ascertain a venture's potential profitability. Knight's methodology served as the foundation of the Chicago School of Economics.