This paper provides the first review of developments in the application of cooperative game theory to issues of interest to strategic management; what we term “value capture theory.” Value capture theory provides a broad approach to formal strategy theory aimed at under- standing persistent...

A large theoretical literature on value capture following Brandenburger and Stuart Jr. (1996) 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...

As we move into the 21st century, the world seems a smaller place - transportation costs continue to fall, fiber optic networks speed information around the planet, and corporations operate on a global scale. One might reasonably ask whether location really matters anymore. Despite these trends...