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- W3080593225 abstract "Where do new resources come from? We build on the premise that environments feature vast reservoirs of latent resources, uses and resource combinations. However, identifying this value can be costly and difficult. In this paper we consider the thought experiment of an endowment-less firm and how it might search for and develop latent resources. We build on perception science and evolutionary biology to highlight how the notion of “searching-for” foreshortens costly search processes. Contrarian beliefs offer a mechanism for generatively seeding search and bootstrapping resources and heterogeneity. Beliefs partially solve the factor markets problem; though their realization is dependent on developing firm-specific theories of value and targeted experimentation. Our approach also addresses how firms might actively harness the adjacent possible. We conclude with a discussion of how our arguments relate to fundamental questions in the field of strategy and the resource-based view." @default.
- W3080593225 created "2020-09-01" @default.
- W3080593225 creator A5026683520 @default.
- W3080593225 creator A5051425893 @default.
- W3080593225 creator A5079464744 @default.
- W3080593225 date "2020-01-01" @default.
- W3080593225 modified "2023-09-23" @default.
- W3080593225 title "Microfoundations of Resources: A Theory" @default.
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- W3080593225 doi "https://doi.org/10.2139/ssrn.3549865" @default.
- W3080593225 hasPublicationYear "2020" @default.
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