Resource title

Equilibrium vs Evolution inthe Resource-Based Perspective - The Conflicting Legacies of Demsetz and Penrose

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Resource description

This paper argues that not only Edith Penrose, but also Harold Demsetz should be seenas a dominant source of inspiration for RBP scholars, that these two crucial influenceshold different and even conflicting views of the economic process, and that they helpedfound different research areas and research approaches within the RBP. Based on thisdiscussion, the paper argues that the conflicting legacies of Penrose and Demsetzthreathen the coherence of the RBP, that a central problem in the RBP is the lack ofunderstanding of the process of resource-creation which tends to give the perspective aretrospective character, but that work on technological innovation and change, framedin the broader theoretical context of Austrian and evolutionary economics, may helpremedy this shortcoming.

Resource author

Nicolai J. Foss

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Resource language

eng

Resource content type

application/pdf

Resource resource URL

http://hdl.handle.net/10398/8113

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