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...

We develop a model in which the parties to a joint production project have a choice of specifying contractual performance in terms of actions or deliverables. Penalties for noncompliance are not specified; rather, they are left to the courts under the legal doctrine of compensatory damages. We...

Thaler and Sunstein (2008) advance the concept of ‘nudge’ policies—non-regulatory and non-fiscal mechanisms designed to enlist people's cognitive biases or motivational deficits so as to guide their behaviour in a desired direction. A core assumption of this approach is that policymakers...