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The payments perspective: micro‐foundations of resource analysis

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  • Steven A. Lippman
  • Richard P. Rumelt

Abstract

Problems in the micro‐foundations of neoclassical theory, especially in partial equilibrium analysis, are being imported into the resource‐based view. This paper critiques neoclassical theory and proffers new concepts more suited to strategy scholars. In particular, we develop the concepts of simple rents, rent sensitivity analysis, and the payments perspective. Copyright © 2003 John Wiley & Sons, Ltd.

Suggested Citation

  • Steven A. Lippman & Richard P. Rumelt, 2003. "The payments perspective: micro‐foundations of resource analysis," Strategic Management Journal, Wiley Blackwell, vol. 24(10), pages 903-927, October.
    • Handle: RePEc:bla:stratm:v:24:y:2003:i:10:p:903-927
    DOI: 10.1002/smj.346
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    Cited by:

    1. Palmié, Maximilian & Rüegger, Stephanie & Parida, Vinit, 2023. "Microfoundations in the strategic management of technology and innovation: Definitions, systematic literature review, integrative framework, and research agenda," Journal of Business Research, Elsevier, vol. 154(C).
    2. Möller Ulrich & McCaffrey Matthew, 2023. "Entrepreneurship and Firm Strategy: Integrating Resources, Capabilities, and Judgment through an Austrian Framework," Entrepreneurship Research Journal, De Gruyter, vol. 13(4), pages 997-1031, October.
    3. Agata Pierscieniak & Izabela Krawczyk-Sokolowska & Wieslawa Caputa, 2023. "Micro-foundations of environmental entrepreneurship resistance in SMEs," International Entrepreneurship and Management Journal, Springer, vol. 19(1), pages 71-95, March.
    4. Ren, Shuang & Fan, Di & Huang, Xinli & Li, Zijie, 2021. "The micro-foundation of ambidextrous opportunity identification in international expansion," International Business Review, Elsevier, vol. 30(1).
    5. Emily S. Block & Ante Glavas & Michael J. Mannor & Laura Erskine, 2017. "Business for Good? An Investigation into the Strategies Firms Use to Maximize the Impact of Financial Corporate Philanthropy on Employee Attitudes," Journal of Business Ethics, Springer, vol. 146(1), pages 167-183, November.
    6. Christofi, Michael & Vrontis, Demetris & Cadogan, John W., 2021. "Micro-foundational ambidexterity and multinational enterprises: A systematic review and a conceptual framework," International Business Review, Elsevier, vol. 30(1).

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