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Why look for a mirage when you already have an oasis?


  • J. Rajendran Pandian

    (University of Wollongong, Australia)

  • Paul L. Robertson

    (University of Wollongong, Australia)


The theoretical elegance of economic theory in general has inspired many strategic management researchers to examine the possibilities of building theories of competitive strategy by applying economic principles to competitive decisions. In this paper, we argue that the integration of economic perspective is not feasible. Also, we argue that the theories built on strategic management perspectives are superior to those built on economic theory and hence we should not worry about integrating these two competing perspectives. We also point to the issues raised by these attempts at integration and point out the difficulties involved. Our arguments are supported by other researchers who have attempted to reconcile differences in various economic traditions. Hence, we ask why we should search for a mirage (though one might imagine it to be an oasis) while we are already at an oasis! Copyright © 2003 John Wiley & Sons, Ltd.

Suggested Citation

  • J. Rajendran Pandian & Paul L. Robertson, 2003. "Why look for a mirage when you already have an oasis?," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 24(4), pages 325-334.
  • Handle: RePEc:wly:mgtdec:v:24:y:2003:i:4:p:325-334
    DOI: 10.1002/mde.1123

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    References listed on IDEAS

    1. Richard N. Langlois & Paul L. Robertson, 1996. "Stop Crying over Spilt Knowledge: A Critical Look at the Theory of Spillovers and Technical Change," Working papers 1996-06, University of Connecticut, Department of Economics.
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    Cited by:

    1. Alain Desreumaux, 2008. "Refaire de la stratégie?," Revue Finance Contrôle Stratégie,, vol. 11(Special), pages 67-107, June.

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