Managerial cognition, sunk costs, and the evolution of industry structure

Article Abstract:

Research indicates that companies develop biased competitive environment estimates due to their concentration on nearby competitors, which is driven by bounded rationality and competitive pressure. It is concluded that stable performance and strategic heterogeneity will therefore emerge within a given industry, but this will decrease as costs of change and competitive pressures decrease.

Management, Investments, Knowledge management

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Guest editors' introduction to the special issue

Article Abstract:

In this introduction to the journal's special issue, the authors support an expanded theoretical framework in which to examine sustained differences between corporations, rather than the traditional resource-based view. Discussion includes a detailed explanation of the tenets of the resource-based view as well as a broader conceptualization of competitive heterogeneity.

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The payments perspective: micro-foundations of resource analysis

Article Abstract:

The article examines rent sensitivity analysis, simple rents, and the payments perspective as an alternative to neoclassical economic theory in exploring corporate competition.

Rents (Property), Neoclassical economics, Austrian school of economics

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