Value & Predictability within the RBV of the Firm: A critical review of the resource-based and related literature

Abstract

The article revisits the tautology argument in the RBV. We find that the tautology issue can be resolved when adopting a labour theory of value. The review also finds that, when adopting and integrating a labour theory of value, the RBV's fundamental puzzle of predicting competitive advantage can be resolved. The article closes re-evaluating the current understanding of the RBV's status and by proposing new directions for research