IDEAS home Printed from https://ideas.repec.org/a/bla/stratm/v36y2015i1p76-96.html
   My bibliography  Save this article

Toward a theory of entrepreneurial rents: A simulation of the market process

Author

Listed:
  • Mohammad Keyhani
  • Moren Lévesque
  • Anoop Madhok

Abstract

No abstract is available for this item.

Suggested Citation

  • Mohammad Keyhani & Moren Lévesque & Anoop Madhok, 2015. "Toward a theory of entrepreneurial rents: A simulation of the market process," Strategic Management Journal, Wiley Blackwell, vol. 36(1), pages 76-96, January.
    • Handle: RePEc:bla:stratm:v:36:y:2015:i:1:p:76-96
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1002/smj.2203
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Foss, Nicolai, 2000. "Austrian Economics and Game Theory: A Stocktaking and an Evaluation," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 13(1), pages 41-58, February.
    2. Bruce Kogut & Udo Zander, 1992. "Knowledge of the Firm, Combinative Capabilities, and the Replication of Technology," Organization Science, INFORMS, vol. 3(3), pages 383-397, August.
    3. Glenn MacDonald & Michael D. Ryall, 2004. "How Do Value Creation and Competition Determine Whether a Firm Appropriates Value?," Management Science, INFORMS, vol. 50(10), pages 1319-1333, October.
    4. Williamson, Oliver E, 1979. "Transaction-Cost Economics: The Governance of Contractural Relations," Journal of Law and Economics, University of Chicago Press, vol. 22(2), pages 233-261, October.
    5. Ordeshook,Peter C., 1986. "Game Theory and Political Theory," Cambridge Books, Cambridge University Press, number 9780521315937.
    6. Casson, Mark, 2005. "Entrepreneurship and the theory of the firm," Journal of Economic Behavior & Organization, Elsevier, vol. 58(2), pages 327-348, October.
    7. Sharon A. Alvarez & Jay B. Barney, 2007. "The Entrepreneurial Theory of the Firm," Journal of Management Studies, Wiley Blackwell, vol. 44(7), pages 1057-1063, November.
    8. Adam M. Brandenburger & Harborne W. Stuart, 1996. "Value‐based Business Strategy," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 5(1), pages 5-24, March.
    9. Eero Lehto & Olavi Lehtoranta, 2006. "How Do Innovations Affect Mergers and Acquisitions—Evidence from Finland?," Journal of Industry, Competition and Trade, Springer, vol. 6(1), pages 5-25, March.
    10. Holmstrom, Bengt & Milgrom, Paul, 1994. "The Firm as an Incentive System," American Economic Review, American Economic Association, vol. 84(4), pages 972-991, September.
    11. Ross, R. Brent & Westgren, Randall E., 2006. "Economic Returns to Entrepreneurial Behavior," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 38(2), pages 403-419, August.
    12. Granstrand, Ove & Sjölander, Sören, 1990. "The Acquisition of Technology and Small Firms by Large Firms," Working Paper Series 213, Research Institute of Industrial Economics.
    13. Kathleen R. Conner & C. K. Prahalad, 1996. "A Resource-Based Theory of the Firm: Knowledge Versus Opportunism," Organization Science, INFORMS, vol. 7(5), pages 477-501, October.
    14. David Mayer & Martin Kenney, 2004. "Economic Action Does Not Take Place in a Vacuum: Understanding Cisco's Acquisition and Development Strategy," Industry and Innovation, Taylor & Francis Journals, vol. 11(4), pages 299-325.
    15. Dennis A. Yao, 1988. "Beyond the reach of the invisible hand: Impediments to economic activity, market failures, and profitability," Strategic Management Journal, Wiley Blackwell, vol. 9(S1), pages 59-70, June.
    16. Konishi, Hideo & Ray, Debraj, 2003. "Coalition formation as a dynamic process," Journal of Economic Theory, Elsevier, vol. 110(1), pages 1-41, May.
    17. Israel M. Kirzner, 1997. "Entrepreneurial Discovery and the Competitive Market Process: An Austrian Approach," Journal of Economic Literature, American Economic Association, vol. 35(1), pages 60-85, March.
    18. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
    19. Richard N. Langlois, 2007. "The Entrepreneurial Theory of the Firm and the Theory of the Entrepreneurial Firm," Journal of Management Studies, Wiley Blackwell, vol. 44(7), pages 1107-1124, November.
    20. Jerzy A. Filar & Leon A. Petrosjan, 2000. "Dynamic Cooperative Games," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 2(01), pages 47-65.
    21. Guinevere Nell, 2010. "Competition as market progress: An Austrian rationale for agent-based modeling," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 23(2), pages 127-145, June.
    22. David J. Teece, 2007. "Explicating dynamic capabilities: the nature and microfoundations of (sustainable) enterprise performance," Strategic Management Journal, Wiley Blackwell, vol. 28(13), pages 1319-1350, December.
    23. Robert R. Wiggins & Timothy W. Ruefli, 2005. "Schumpeter's ghost: Is hypercompetition making the best of times shorter?," Strategic Management Journal, Wiley Blackwell, vol. 26(10), pages 887-911, October.
    24. Jay B. Barney, 1986. "Strategic Factor Markets: Expectations, Luck, and Business Strategy," Management Science, INFORMS, vol. 32(10), pages 1231-1241, October.
    25. Kreps, David M., 1990. "Game Theory and Economic Modelling," OUP Catalogue, Oxford University Press, number 9780198283812, Decembrie.
    26. Hart, Sergiu & Kurz, Mordecai, 1983. "Endogenous Formation of Coalitions," Econometrica, Econometric Society, vol. 51(4), pages 1047-1064, July.
    27. Olivier Chatain & Peter Zemsky, 2007. "The Horizontal Scope of the Firm: Organizational Tradeoffs vs. Buyer-Supplier Relationships," Management Science, INFORMS, vol. 53(4), pages 550-565, April.
    28. Warren J. Samuels, 1997. "On the Nature and Utility of the Concept of Equilibrium," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 20(1), pages 77-88, September.
    29. Alvarez, Sharon A., 2007. "Entrepreneurial rents and the theory of the firm," Journal of Business Venturing, Elsevier, vol. 22(3), pages 427-442, May.
    30. Joseph M. Ostroy & Louis Makowski, 2001. "Perfect Competition and the Creativity of the Market," Journal of Economic Literature, American Economic Association, vol. 39(2), pages 479-535, June.
    31. Jovan Grahovac & Douglas J. Miller, 2009. "Competitive advantage and performance: the impact of value creation and costliness of imitation," Strategic Management Journal, Wiley Blackwell, vol. 30(11), pages 1192-1212, November.
    32. Arnold, Tone & Schwalbe, Ulrich, 2002. "Dynamic coalition formation and the core," Journal of Economic Behavior & Organization, Elsevier, vol. 49(3), pages 363-380, November.
    33. Granstrand, Ove & Sjolander, Soren, 1990. "The acquisition of technology and small firms by large firms," Journal of Economic Behavior & Organization, Elsevier, vol. 13(3), pages 367-386, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Xing, Yijun & Liu, Yipeng & Tarba, Shlomo & Cooper, Sir Cary L., 2017. "Servitization in mergers and acquisitions: Manufacturing firms venturing from emerging markets into advanced economies," International Journal of Production Economics, Elsevier, vol. 192(C), pages 9-18.
    2. Dietrichson, Jens & Gudmundsson, Jens & Jochem, Torsten, 2022. "Why don’t we talk about it? Communication and coordination in teams," Journal of Economic Behavior & Organization, Elsevier, vol. 197(C), pages 257-278.
    3. Hamed Tajedin & Hamed Tajedin & Mohammad Keyhani, 2019. "A Theory of Digital Firm-Designed Markets: Defying Knowledge Constraints with Crowds and Marketplaces," Strategy Science, INFORMS, vol. 4(4), pages 323-342, December.
    4. Kautonen, Teemu & Kibler, Ewald & Minniti, Maria, 2017. "Late-career entrepreneurship, income and quality of life," Journal of Business Venturing, Elsevier, vol. 32(3), pages 318-333.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Aseem Kaul, 2013. "Entrepreneurial Action, Unique Assets, and Appropriation Risk: Firms as a Means of Appropriating Profit from Capability Creation," Organization Science, INFORMS, vol. 24(6), pages 1765-1781, December.
    2. Teece, David J., 2010. "Technological Innovation and the Theory of the Firm," Handbook of the Economics of Innovation, in: Bronwyn H. Hall & Nathan Rosenberg (ed.), Handbook of the Economics of Innovation, edition 1, volume 1, chapter 0, pages 679-730, Elsevier.
    3. Kim, Jongwook & Mahoney, Joseph T., 2008. "A Strategic Theory of the Firm as a Nexus of Incomplete Contracts: A Property Rights Approach," Working Papers 08-0108, University of Illinois at Urbana-Champaign, College of Business.
    4. Mehmet Ali Köseoglu & John A. Parnell & Melissa Yan Yee Yick, 2021. "Identifying influential studies and maturity level in intellectual structure of fields: evidence from strategic management," Scientometrics, Springer;Akadémiai Kiadó, vol. 126(2), pages 1271-1309, February.
    5. Olivier Chatain, 2014. "How do strategic factor markets respond to rivalry in the product market?," Strategic Management Journal, Wiley Blackwell, vol. 35(13), pages 1952-1971, December.
    6. Giovanni Gavetti, 2012. "PERSPECTIVE—Toward a Behavioral Theory of Strategy," Organization Science, INFORMS, vol. 23(1), pages 267-285, February.
    7. Darcy W E Allen, 2020. "When Entrepreneurs Meet:The Collective Governance of New Ideas," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number q0269, January.
    8. Darcy W.E. Allen, 2019. "Governing the entrepreneurial discovery of blockchain applications," Journal of Entrepreneurship and Public Policy, Emerald Group Publishing Limited, vol. 9(2), pages 194-212, October.
    9. J. W. Stoelhorst, 2023. "Value, rent, and profit: A stakeholder resource‐based theory," Strategic Management Journal, Wiley Blackwell, vol. 44(6), pages 1488-1513, June.
    10. Kraaijenbrink, Jeroen & Spender, JC & Groen, Aard, 2009. "The resource-based view: A review and assessment of its critiques," MPRA Paper 21442, University Library of Munich, Germany.
    11. Nickerson, Jack A. & Yen, C. James & Mahoney, Joseph T., 2011. "Exploring the Problem-Finding and Problem-Solving Approach for Designing Organizations," Working Papers 11-0107, University of Illinois at Urbana-Champaign, College of Business.
    12. Nicolai J. Foss, 2002. "The Strategy and Transaction Cost Nexus Past Debates, Central Questions, and Future Research Possibilities," DRUID Working Papers 02-04, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
    13. Zoltán J. Ács & Pontus Braunerhjelm & David B. Audretsch & Bo Carlsson, 2015. "The knowledge spillover theory of entrepreneurship," Chapters, in: Global Entrepreneurship, Institutions and Incentives, chapter 7, pages 129-144, Edward Elgar Publishing.
    14. Namgyoo Park & John Mezias & Jinju Lee & Jae-Hoon Han, 2014. "Reverse knowledge diffusion: Competitive dynamics and the knowledge seeking behavior of Korean high-tech firms," Asia Pacific Journal of Management, Springer, vol. 31(2), pages 355-375, June.
    15. Coulet, Jean-Claude, 2019. "The organization activity: A foresight approach of theoretical knowledge evolution in management science," Technological Forecasting and Social Change, Elsevier, vol. 140(C), pages 160-168.
    16. Nicholas Argyres, 2011. "Using Organizational Economics to Study Organizational Capability Development and Strategy," Organization Science, INFORMS, vol. 22(5), pages 1138-1143, October.
    17. Jain, Amit, 2011. "Connaissance, ressources, concurrence et les frontières de l'entreprise," Economics Thesis from University Paris Dauphine, Paris Dauphine University, number 123456789/6403 edited by Thiétart, Raymond-Alain.
    18. Tomasz Obloj & Peter Zemsky, 2015. "Value creation and value capture under moral hazard: Exploring the micro-foundations of buyer– supplier relationships," Strategic Management Journal, Wiley Blackwell, vol. 36(8), pages 1146-1163, August.
    19. Olivier Chatain & Denisa Mindruta, 2017. "Estimating Value Creation from Revealed Preferences: Application to Value-based Strategies," Strategic Management Journal, Wiley Blackwell, vol. 38(10), pages 1964-1985, October.
    20. Nicolaï Foss & Nils Stieglitz, 2012. "Modern Resource-based Theory(ies)," Chapters, in: Michael Dietrich & Jackie Krafft (ed.), Handbook on the Economics and Theory of the Firm, chapter 20, Edward Elgar Publishing.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:stratm:v:36:y:2015:i:1:p:76-96. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://onlinelibrary.wiley.com/journal/10.1111/0143-2095 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.