One of the important events in the development of resource-based theory (RBT) over the past decade has been the call for establishing micro-foundations for RBT. However, the micro-foundations project is still largely an unfulfilled promise. This article clarifies the nature of the micro-foundations project, discusses what it may add in terms of additional explanatory leverage, and specifically addresses micro-foundations in the context of knowledge-based value creation, a key theme in RBT.
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