<DIV>Harry L. Davis joined the faculty of the University of Chicago Booth School of Business in 1963, and he has since become one of the most influential figures in business education in the United States and abroad. He helped develop the first core leadership program of any top-rated MBA institution...</div>

Previous research has shown that most consumer packaged goods markets are in long-run competitive equilibrium. In most categories, a given brand’s market share is stationary, showing remarkable stability over long time horizons (10 years). This empirical generalization has been attributed to...