Strategy Lessons From Jean Tirole
Harvard Business Review
OCTOBER 15, 2014
The academic study of strategy took a big leap forward in the 1970s when Michael Porter of HBS looked at earlier economic research on industry structure and noticed that market power — which economists wanted to minimize — was the same thing as sustained profitability, which corporate executives wanted to maximize. As an example, Rivkin cites the notion of commitment, which Ghemawat wrote a book on. Corporate finance? Why did Jean Tirole win this year’s economics Nobel ?