Value Capture in the Face of Known and Unknown Unknowns

Autor:	Kevin A. Bryan, Michael D. Ryall, Burkhard C. Schipper
Rok vydání:	2022
Předmět:	Management of Technology and Innovation Strategy and Management Management Science and Operations Research Business and International Management
Zdroj:	Strategy Science. 7:157-189
ISSN:	2333-2077 2333-2050
DOI:	10.1287/stsc.2021.0126
Popis:	A large theoretical literature on value capture uses cooperative games under complete information to study how and why firms earn supernormal profits. However, firms often have different information, beliefs, or creative foresight. We extend value capture theory to incomplete information (“known unknowns”) or unawareness (“unknown unknowns”) and illustrate some conceptual issues with that extension. Using the case study of Cirque du Soleil, we show how an entrepreneurial firm can profit even when it does not contribute materially to value creation. In a case study of Apple iTunes, we show how value capture depends quantitatively on the beliefs of other firms.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::ad735dcb97dcc8b214520696527c2351 https://doi.org/10.1287/stsc.2021.0126 Zobrazit plný text záznamu