Resources and Transaction Costs

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Resources and Transaction Costs

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Title: Resources and Transaction Costs
How the Economics of Property Rights Furthers the Resource-based View
Author: Foss, Kirsten; Foss, Nicolai J.
Abstract: Abstract The economics of property rights furthers the resource-based view in a number of ways. Resource analysis is refined by conceptualizing resources as composed of multiple attributes to which property rights may be held. A resource owner’s ability to create, appropriate and sustain value from resources depends on the property rights that she holds to those resources and on the transaction costs of exchanging, defining and protecting the relevant property rights. While transaction costs are major sources of value dissipation, value may be created by reducing such dissipation. Implications for the RBV analysis of sustained competitive advantage are derived.
URI: http://hdl.handle.net/10398/7297
Date: 2004-08-02

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