At its core, economics is about making decisions. In the history of economic thought, great intellectual prowess has been exerted toward devising exquisite theo

The need to understand the theories and applications of economic and finance risk has been clear to everyone since the financial crisis, and this collection of

A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot

Whether we like it or not we all feel that the world is uncertain. From choosing a new technology to selecting a job, we rarely know in advance what outcome wil

As desired, the infonnation demand correspondence is single valued at equilibrium prices. Hence no planner is needed to assign infonnation allocations to indivi