Information, market imperfections and strategy
论证企业寻找市场不完美反映了经济中的信息分散，用贝叶斯框架解释外部和内部信息租金如何内生出现，并指出战略搜索应随市场演化从外部转向内部租金来源。
In this paper we argue that the organization's search for market imperfections reflects the information dispersion in the economy. We describe, within a Bayesian framework, the relative importance of and the mechanisms by which externally- and internally-based informational rents arise endogenously. We argue that, rather than viewing the strategic planning process as one where the firm must pursue only one source of information, search should be viewed as evolving within a dynamically related system; progressing from externally-based to internally-based sources of rent as markets evolve.