Birger Wernerfelt

J.C. Penney Professor of Management
Professor of Marketing

Biography | Selected Publications

On the Role of the RBV in Marketing”, Journal of the Academy of Marketing Science, 41, forthcoming. (2014)

The Comparative Advantages of Firms, Markets, and Contracts: A Unified Theory”Economica81, forthcoming. (2014)

“Small Forces and Large Firms: Foundations of the RBV,” Strategic Management Journal, 34, 635-643 (2013)

“Inefficient Pre-Bargaining Search,” Journal of Institutional and Theoretical Economics, 168, 2 (June), 211 - 223. (2012)

On Brand Extension as a Signal of Product Quality”, Marketing Science, 32 (5) 771-772 (2012)

“On the Grouping of Tasks into Firms: Make-or-Buy with Interdependent Parts,” Novak, Sharon and Birger Wernerfelt, in Journal of Economics and Management Strategy, 21, 1, 53-77. (2012)

“The Use of Resources in Resource Acquisition,” Journal of Management, 37 (5), 1369-1373 (2011)

“Costs of Implementation: Bargaining Costs Versus Allocative Efficiency”, Birger Wernerfelt, Boris Maciejovsky, Journal of Economic Behavior and Organization, 77 (3), 318–325. (2011)

“The Use of Resources in Resource Acquisition”, Journal of Management, 37 (5) 1369-1373 (2011)

“Bargaining Before or After Communication?", Journal of Institutional and Theoretical Economics, 164 (2) 211-229.  (2008)

“Class Pricing”, Marketing Science, 27 (5) 755-763 (2008)

“Delegation, Committees, and Managers”, Journal of Economics and Management Strategy, 16 (1) 35-51 (2007)

“Renegotiation Facilitates Contractual Incompleteness”, Journal of Economics and Management Strategy, 16 (4) 893-910 (2007)

“Determinants of Asset Ownership: A Study of the Carpentry Trade”, Duncan I. Simester, Review of Economics and Statistics, 87 (1) 50-58 (2005)

“Product Development Resources and the Scope of the Firm”, Journal of Marketing, 69 (2) 15-23 (2005)

“Governance of Adjustments”, Journal of Business, 77 (2) S3-S24  (2004)

“Organizational Languages”, Journal of Economics and Management Strategy, 13 (3) 461-472  (2004)

“Robust Incentive Contracts”, Journal of Institutional and Theoretical Economics, 160 (4) 545-554 (2004)

 “Why do Firms Tend to Become Different?”, in Constance Helfat (ed.), Handbook of Organizational Capabilities, Malden, MA and Oxford, UK: Blackwell,  Chapter 9, pp. 121-33. (2003)

Review of Concentrated Corporate Ownership by R. K. Morck, Journal of Economic Literature, 40, no. 1, March, pp. 181-82. (2002)

“Why Should the Boss Own the Assets?”Journal of Economics and Management Strategy, 11 (3), 473-485 (2002)

“Implementing Quality Improvement Programs Designed to Enhance Customer Satisfaction: Quasi-Experiments in the United States and Spain”, Duncan I. Simester, John R. Hauser, and Roland Rust, Journal of Marketing Research,37 (1) 102-112 (2000)

“Bounded Rationality Modeling”, Bertrand Munier, Reinhard Selten, Marketing Letters, 10 (3) 233-248 (1999)

 “Sidepayments in Marketing”, John R. Hauser and Duncan I. Simester, Marketing Science, 16 (3) 246-255 (1997)

“On the Nature and Scope of the Firm: An Adjustment-Cost Theory”, Journal of Business, 70 (4) 489-514 (1997)

“The Role of Inference in Context Effects: Inferring What You Want from What is Available”, Drazen Prelec and Florian Zettelmeyer, Journal of Consumer Research, 23 (1) 118-125 (1997)

 “Efficient Marketing Communication: Helping the Customer Learn”, Journal of Marketing Research, 33 (2) 239-246  (1996)

“Internal Customers and Internal Suppliers”, John R. Hauser and Duncan I. Simester, Journal of Marketing Research, 33 (3) 268-280 (1996)

 “Resource-Based Strategy in a Stochastic Model”, in Cynthia A. Montgomery (ed.), Resource-Based and Evolutionary Theories of the Firm, Norwell, MA, and Dordrecht: Kluwer Academic, pp. 133-146. (1995)

“A Rational Reconstruction of the Compromise Effect”Journal of Consumer Research, 21 (4) 627-633 (1995)

“The Resource-based View of the Firm: Ten Years After”, Strategic Management Journal, 16 (3) 171-175 (1995)

“An Efficiency Criterion for Marketing Design”, ?Journal of Marketing Research, 31 (4) 462-470 (1994)

“Customer Satisfaction Based Incentive Systems”, John R. Hauser and Duncan I. Simester, Marketing Science, 13 (4) 327-350  (1994)

“On the Function of Sales Assistance”Marketing Science, 13 (1) 68-82 (1994)

“Selling Formats for Search Goods”Marketing Science, 13 (3) 298-309 (1994)

“Risk Reduction and Umbrella Branding”, Birger Wenerfelt, Cynthia A. Montgomery, Journal of Business, 65 (1) 31-50 (1992)

“Brand Loyalty and Market Equilibrium”, Marketing Science, 10 (3) 229-245 (1991)

“Sources of Superior Performance: Market Share vs. Industry Effects in the U.S. Brewing Industry”, Birger Wernerfelt, Cynthia A. Montgomery, Management Science, 37 (8) 954-959 (1991)

“Strategy and the Research Process: Reply”, Strategic Management Journal, Cynthia A. Montgomery and Srinivasan Balakrishnan, 12 (1) 83-84 (1991)

“Comment on ‘Monitoring Agents with Other Agents’ by Hal R. Varian”, Wernerfelt, Birger. Journal of Institutional and Theoretical Economics, 146, no. 1, March, pp. 177-179. (1990)

Review of R. Selten, Models of Strategic Rationality in Managerial and Decision Economics, 11, no. 1, February, pp. 69-70. (1990)

“Advertising Content When Brand Choice is a Signal”, Journal of Business, 63 (1) 91-98 (1990)

“An Evaluation Cost Model of Consideration Sets”, Birger Wernerfelt, John R. Hauser, Journal of Consumer Research, 16 (4) 393-408 (1990)

“Why Do Firms Reduce Business Risk?”, Wernerfelt, Birger, Raphael H. Amit  Academy of Management Journal, 33 (3) 520-533 (1990)

“Credible Delegation by Oligopolists: An Example from Distribution Channel Management”, Wernerfelt, Birger, and Anne T. Coughlan, Management Science, 35 (2) 226-239 (1989)

“Determinants of Firm Performance: The Relative Importance of Economic and Organizational Factors”, Wernerfelt, Birger, and Gary S. Hansen,  Strategic Management Journal, 10 (5) 399-411  (1989)

“From Critical Resources to Corporate Strategy”Journal of General Management, 14 (3) 4-12 (1989)

“Strategy Content and the Research Process: A Critique and Commentary”, Wernerfelt, Birger, Cynthia A. Montgomery and Srinivasan Balakrishnan, Strategic Management Journal, 10 (2) 189-197 (1989)

“Tacit Collusion in Differentiated Cournot Games”, Economics Letters, 29 (4) 303-306 (1989)

“The Competitive Implications of Relevant-Set/Response Analysis”, Wernerfelt, Birger, John R. Hauser,  Journal of Marketing Research, 26 (4) 391-405 (1989)

 “A Model for Customer Complaint Management”, Wernerfelt, Birger, and Claes Fornell, Marketing Science, 7 (3) 287-298 (1988)

 “Diversification, Ricardian Rents, and Tobin’s q”, Birger Wernerfelt, Cynthia A. Montgomery, RAND Journal of Economics, 19(4), 623-32.   (1988)

 “Reputation, Monitoring and Effort”, Information Economics and Policy, 3 (3) 207-218. (1988)

“Existence and Uniqueness of Price Equilibrium in ‘Defender”’, Birger Wernerfelt, John R. Hauser,  Marketing Science, 7 (1) 92-93  (1988)

“General Equilibrium with Real Time Search in Labor and Product Markets”Journal of Political Economy, 96 (3), 821-31 (1988)

“On the Existence of a Nash Equilibrium Point in N-Person Nonzero Sum Stochastic Jump Differential Games”, Optimal Control Applications and Methods, 9 (4) 449-456 (1988)

“Umbrella Branding as a Signal of New Product Quality: An Example of Signaling by Posting a Bond”, RAND Journal of Economics, 19 (3) 458-466. (1988)

“Competitive Price and Quality Under Asymmetric Information”, Birger Wernerfelt, Gerard J. Tellis,  Marketing Science, 6 (3) 240-253 (1987)

“Competitive Strategy Under Uncertainty”, Birger Wernerfelt, Aneel Karnani, Strategic Management Journal, 8 (2) 187-194 (1987)

“Defensive Marketing Strategy by Customer Complaint Management: A Theoretical Analysis”, Birger Wernerfelt, Claes Fornell, Journal of Marketing Research, 24 (4) 337-346 (1987)

“Uniqueness of Nash Equilibrium for Linear-Convex Stochastic Differential Games”, Journal of Optimization Theory and Applications, 53 (1) 133-138 (1987)

“A Special Case of Dynamic Pricing Policy”, Management Science, 32 (12) 1562-1566 (1986)

“Product Line Rivalry: Note”American Economic Review, 76 (4) 842-844  (1986)

“Semifuzzy Games”, International Journal for Fuzzy Sets and Systems, 19 (1) 21-28 (1986)

“Technical Change, Competition and Vertical Integration”, Strategic Management Journal, S. Balakrishnan, 7 (4) 347-359 (1986)

“The Relation Between Market Share and Profitability”Journal of Business Strategy, 6(4) 67-74 (1986)

 “Multiple Point Competition” (with Aneel Karnani), Strategic Management Journal, 6, no. 1, January-March, 87-96 (1985)

“Brand Loyalty and User Skills”, Journal of Economic Behavior and Organization, 6 (4) 381-385  (1985)

“Consumption Experience and Sales Promotion Expenditure”, Birger Wernerfelt, Claes Fornell, William T. Robinson, Management Science, 31 (9) 1089-1105 (1985)

"Multiple Point Competition," Aneel Karnani, Birger Wernerfelt, Strategic Management Journal,  6 (1) 87-96 (1985)

“The Capital Asset Pricing Model and Strategic Planning”, Management Science, 31 (4) 510 (1985)

“The Dynamics of Prices and Market Shares Over the Product Life Cycle”, Management Science, 31 (8) 928-939 (1985)

“To Brand or Not to Brand? A Theoretical and Empirical Question”, Wernerfelt, Birger, and  David E.M. Sappington,  Journal of Business, 58 (3) 279-293 (1985)

 “A Resource-based View of the Firm”Strategic Management Journal 5, no. 2, April-June, pp. 171-80.  Winner: 1994 Strategic Management Society/Wiley Best Paper Prize. (1984)

 “Consumers with Differing Reaction Speeds, Scale Advantages and Industry Structure”European Economic Review, 24 (2), 257-70 (1984)

“Stagflation, New Products and Speculation”, Journal of Macroeconomics, 6 (3) 295-309  (1984)

 

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General Expertise
Branding; Competitive strategy; Corporate strategy and policy; Customer incentives; Customer satisfaction; Europe; Game theory; Industrial organization; Marketing strategy; Microeconomics; Research, academic; Signaling; Supply chain management