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In: A General Theory of Competition: Resources, Competences, Productivity, Economic Growth

Chapter 2: Antecedents and Affinities: Evolutionary and “Austrian” Economics

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Antecedents and Affinities: Evolutionary and “Austrian” Economics
Antecedents and affinities: Evolutionary and “austrian” economics

As an interdisciplinary theory of competition, resource-advantage theory draws on—shares affinities with—diverse theories, research programs, and traditions. In particular, R-A theory draws on evolutionary economics, “Austrian” economics, heterogeneous demand theory, differential advantage theory, business strategy, and institutional theory (see Table 1.1 for a summary). A comprehensive review of each of these theories, programs, and research traditions is beyond the scope of this work. Instead, I review only those portions that are directly relevant to R-A theory and point readers toward more comprehensive reviews. This chapter examines evolutionary economics and “Austrian” economics. Chapter 3 focuses on the theories of heterogeneous demand and differential advantage. Chapter 4 reviews business strategy and institutional theory.

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