This invaluable book provides the foundations for a new theory of
the firm, drawing on Birger Wernerfelt's landmark work on economic
theory and the resource-based view of the firm. It addresses a
vigorous and long-standing academic debate over what exactly a
'firm' is, both in the field of management and economics.
Wernerfelt revisits his classic articles, including an extensively
revised 'A Resource-Based View of the Firm' (1984), which have been
updated and synthesized to provide precise and accessible concepts
and predictions. By offering future directions for research and
practice, this book will be of interest to students and scholars of
management and economics alike.
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