@techreport{d522f430f8ad11db9160000ea68e967b,
title = "Towards a Dynamic Resource-Based View: Insights from Austrian capital and Entrepreneurship Theory",
abstract = "The dominant view in the strategic management field is the resource-based view (“RBV”). It has often been observed that the RBV is lacking in the dynamic dimension. For example, processes of building competitive advantages by means of combining existing complementary resources in novel ways are not inquired into. We argue that the RBV may profitably draw on Austrian (Misesian) and Knightian insights in entrepreneurship and capital theory, particularly in its Lachmannian manifestation, in order to strengthen its dynamic components. We link the RBV and Austrian ideas in the context of the theory of complex systems pioneered by Herbert Simon. We draw a number of implications for strategic management from this synthesis, notably into resource value and sustainability of competitive advantage. ",
keywords = "Resource-based view, Austrial capital theory, Complexity theory, Entrepreneurs, Competitive advantage",
author = "Foss, {Nicolai Juul} and Ibuki Ishikawa",
year = "2006",
month = apr,
language = "English",
isbn = "8791815223",
series = "SMG Working Paper",
publisher = "Center for Strategic Management and Globalization",
number = "6/2006",
address = "Denmark",
type = "WorkingPaper",
institution = "Center for Strategic Management and Globalization",
}