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Toward a theory of entrepreneurial rents: A simulation of the market process
2014
Strategic Management Journal
While strategy theory relies heavily on equilibrium theories of economic rents such as Ricardian and monopoly rents, we do not yet have a comprehensive theory of disequilibrium or entrepreneurial rents. We use cooperative game theory to structure computer simulations of the market process in which acts of creation and discovery disequilibrate and equilibrate the market over time. Using simulation experiments, entrepreneurial rents can be isolated from structural rents by keeping initial
doi:10.1002/smj.2203
fatcat:suug3ytwk5gtlmaig44scw5ahm