The Next Step in the Evolution of the RBV: Integration with Transaction Cost Economics

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Abstract

This essay addresses the role of transaction cost economics (TCE) in advancing the resource-based view. In particular, it is argued that TCE has the potential to remedy a number of weak spots in the RBV, such as the absence of attention in the RBV to the interaction between value creation and value appropriation. This and other weak spots in the RBV stem from not taking account of transaction costs to a sufficient extent. Integrating TCE with the RBV adds new insight into the analysis of sustained competitive advantage.
Original languageEnglish
Place of PublicationKøbenhavn
PublisherThe Center for Knowledge Governance. Department of Management, Politics and Philosophy, Copenhagen Business School
Number of pages21
ISBN (Print)8791506190
Publication statusPublished - Mar 2004
SeriesCKG Working Paper
Number4/2004

Keywords

  • The resource-based view
  • Transaction cost economics
  • Sustained competitive advantage

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