Existing theoretical frameworks typically revolve around sustainability of competitive advantage and attribute superior firm performance to its position in the industry structure and/or the possession of critical resources. However, the equilibrium-oriented logic implicit in these perspectives...

This paper is primarily concerned with inter-firm heterogeneity. By revisiting Ricardian economics and, in particular, introducing and applying the principles of comparative advantage to strategy inquiry, it advances current theoretical understanding of the phenomenon. Moreover, by introducing...