How do new entrants create and capture value in established industries? Starting from the foundations of neoclassical economics we model entrepreneurial entry and competition as occurring simultaneously in production technology space and product attribute space. Our model's central feature is to...

Which is more innovative: the decentralized, diversified corporation or the smaller, more narrowly focused entrepreneurial firm? The economics and finance literatures argue that larger, diversified firms have natural innovation advantages, as their operating units have access to an internal...

A premise of the capabilities perspective in strategy is that firm-specific capabilities allow some firms to be unusually adept at exploiting growth opportunities. Since few firms have the capacity to internally generate the quantity or variety of strategic resources needed to exploit growth...

This paper builds on the theory-based view and the theory of the entrepreneur in economics to describe three archetypal value-creating theories that economic actors can possess and shows that each theory implies a set of prescriptions for how entrepreneurs can organize and govern the process of...