----------------- HES POSTING ----------------- 
 
Well, I can say for certain that Frank Knight uses the assumption  
of perfect knowledge in Risk, Uncertainty and Profit (1921). In fact,  
the entire text is predicated upon the centrality of that assumption  
to economic knowledge. I will give you at least one quotation from  
that text tomorrow when I get to my office. 
 
However, since Knight's argument is both a strong statement of  
neoclassical theory and a critique of it, I'm not sure which side of  
Larry's divide he should fall! 
 
Also, chapter 7 (I believe that's the chapter number) of Risk,  
Uncertainty, and Profit provides a long list of "minor" assumptions  
that are necessary in order for a general equilibrium to occur.  
George Stigler once remarked that the list was bizarre, but I have  
always liked it. 
 
Ross Emmett 
Augustana University College 
 
------------ FOOTER TO HES POSTING ------------ 
For information, send the message "info HES" to [log in to unmask]