Publications
Publications
- 2021
- HBS Working Paper Series
Renewing Knightian Uncertainty: A Pragmatic Prospectus and Demonstration
By: Amar Bhidé
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.
Keywords
Citation
Bhidé, Amar. "Renewing Knightian Uncertainty: A Pragmatic Prospectus and Demonstration." Harvard Business School Working Paper, No. 21-129, June 2021.