• Summary
  • Contents
  • Subject index

A General Theory of Competition develops a ground-breaking new theory of competition - `resource-advantage theory'. Recent thinking on competition has assumed the premises, structure and implications of the theory of perfect competition. In his long-awaited book Shelby Hunt draws on economics, management, marketing and sociology to articulate resource-advantage theory. The author proceeds to illustrate how and why his theory may be used to explain and predict economic phenomena with great accuracy. This volume is extremely well-referenced, with detailed source notes.

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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