The Resource-Advantage Theory of Competition

Shelby D. Hunt

130 citations0/0 files storedJournal of Management Inquiry

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Innovation and Knowledge Management Economic Theory and Institutions Economic Growth and Productivity

Abstract

The major thesis of this article is that combining the resource-based theory of the firm with Austrian economics and heterogeneous demand theory provides the foundations for a new theory of competition, the resource-advantage theory. This new theory has macro and public policy implications. Specifically, when compared with neoclassical perfect competition theory, the resource-advantage theory better explains productivity and economic growth.

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References

1991Firm Resources and Sustained Competitive Advantage 2004Firm resources and sustained competitive advantage 1990Institutions, Institutional Change and Economic Performance 1984A resource‐based view of the firm 1991Institutions, Institutional Change and Economic Performance 1983An Evolutionary Theory of Economic Change.1990Endogenous Technological Change 1991The Competitive Advantage of Nations

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