Barriers to New Competition
About: This article is published in Yale Law Journal.The article was published on 1957-02-01. It has received 2873 citations till now. The article focuses on the topics: Competition (economics).
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TL;DR: In this article, the authors examined the link between firm resources and sustained competitive advantage and analyzed the potential of several firm resources for generating sustained competitive advantages, including value, rareness, imitability, and substitutability.
46,648 citations
Cites background from "Barriers to New Competition"
...A second objection to the conclusion that sustained competitive advantages cannot exist when firm resources in an industry are perfectly homogeneous and mobile concerns the existence of "barriers to entry" (Bain, 1956), or more generally, "'mobility barriers" (Caves & Porter, 1977)....
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TL;DR: In this article, the underlying economics of the resource-based view of competitive advantage is elucidated, and existing perspectives are integrated into a parsimonious model of resources and firm performance.
Abstract: This paper elucidates the underlying economics of the resource-based view of competitive advantage and integrates existing perspectives into a parsimonious model of resources and firm performance. The essence of this model is that four conditions underlie sustained competitive advantage, all of which must be met. These include superior resources (heterogeneity within an industry), ex post limits to competition, imperfect resource mobility, and ex ante limits to competition. In the concluding section, applications of the model for both single business strategy and corporate strategy are discussed.
10,149 citations
5,084 citations
TL;DR: The authors reviewed some of the criticisms directed towards the eclectic paradigm of international production over the past decade, and restates its main tenets, concluding that it remains a robust general framework for explaining and analysing not only the economic rationale of economic production but many organisational and impact issues in relation to MNE activity as well.
Abstract: This article reviews some of the criticisms directed towards the eclectic paradigm of international production over the past decade, and restates its main tenets. The second part of the article considers a number of possible extensions of the paradigm and concludes by asserting that it remains “a robust general framework for explaining and analysing not only the economic rationale of economic production but many organisational and impact issues in relation to MNE activity as well.”
4,123 citations
Cites background from "Barriers to New Competition"
...For example, as identified by Bain (1956) as monopoly power, product differentiation, absolute cost barriers and government intervention....
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