Asset Stock Accumulation and Sustainability of Competitive Advantage
探讨企业如何通过积累而非购买关键资源来建立竞争优势，并分析资产积累过程的特点（如时间压缩不经济、资产规模效率等）如何影响优势的可持续性。
Given incomplete factor markets, appropriate time paths of flow variables must be chosen to build required stocks of assets. That is, critical resources are accumulated rather than acquired in “strategic factor markets” (Barney [Barney, J. 1986. Strategic factor markets: Expectations, luck, and business strategy. Management Sci. (October) 1231–1241.]). Sustainability of a firm's asset position hinges on how easily assets can be substituted or imitated. Imitability is linked to the characteristics of the asset accumulation process: time compression diseconomies, asset mass efficiencies, inter-connectedness, asset erosion and causal ambiguity.