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TABLE 2
Contributions to Resource–based Theory From Other Perspectives*  

Theory Contribution to Resource–Based Theory
Neo–Classical Theory Firms are input combiners; the distinctiveness of resource combinations is used to produce a product (Marshall).
IO Economics Persistent above normal returns are possible from the maintenance of oligopolistic positions (Bain, 1950; Barney, 1986; Porter, 1980, 1985; Rumelt, 1987; Conner, 1991).
Austrian Economics Entrepreneurial vision and above normal returns for new combinations (Schumpeter, 1934; 1950; Kirzner, 1973). 
Chicago School  Firms are production/distribution efficiency seekers. Firm size and scope reflects the extent to which production and distribution efficiencies are achieved (Demsetz, 1982; Stigler, 1968). 

*Adapted from Connor (1991).
Last Updated on 3/10/98

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