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‘Industrial ecology’ is one of the most influential perspectives to have emerged in recent years in the wider discourse on ‘sustainable development’. The vast majority of industrial ecologists believe that past economic development was characterized by a linear system of extraction, use...
Plant breeders face a unique appropriation problem—plants are reproducible, genetic information is heritable and seeds can be multiplied. The paper uses varietal age as a proxy for durability to examine planned obsolescence strategies in UK wheat breeding. Market‐weighted age fell from 13...
Which firms are more likely to invent technological breakthroughs, such as Hewlett‐Packard's invention of the thermal ink‐jet? I induct theory for this question by interpreting the history of the breakthrough as a recombinant and boundedly rational search process. The firm increased its odds...
This paper proposes a deductively derived model to help managers who preside over decisions to integrate or outsource to assess ex ante whether, when and why it might be strategically and competitively important to develop internal capabilities to perform certain activities in‐house, and when...
Markets have internal dynamics leading to excess volatility and other phenomena that are difficult to explain using rational expectations models. This paper studies these using a nonequilibrium price formation rule, developed in the context of trading with market orders. Because this is so much...
Today, firms are facing many contradictions: efficiency versus creativity; exploitation versus exploration; speed versus time‐consuming resource building. This paper argues that a firm's capability to synthesize such contradictions is the key to understanding why a firm can be more efficient at...
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