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- catalog abstract "As strategic complexity--the number of elements in a strategy and especially the interactions among those elements--rises, imitation of a successful strategy grows difficult. This is demonstrated in a model in which other barriers to imitation are altogether absent. Complexity makes optimization intractable in the technical sense of the word provided by the theory of NP-completeness. Consequently, would-be copycats must rely on searches heuristics or on learning, not on algorithmic "solutions," to match the performance of superior firms. However, complexity also undermines heuristics and learning. Firms that attempt to improve incrementally are quickly snared on low "local peaks," and firms that mimic a high performer's entire strategy suffer large penalties from small errors.Hence complexity deters imitation. This helps to explain why some winning strategies remain unmatched even though they are open to public scrutiny and why those strategies yield superior returns even after many of their critical ingredients are adopted by competitors.".
- catalog contributor b10694661.
- catalog contributor b10694662.
- catalog created "c1997.".
- catalog date "1997".
- catalog date "c1997.".
- catalog dateCopyrighted "c1997.".
- catalog description "As strategic complexity--the number of elements in a strategy and especially the interactions among those elements--rises, imitation of a successful strategy grows difficult. This is demonstrated in a model in which other barriers to imitation are altogether absent. Complexity makes optimization intractable in the technical sense of the word provided by the theory of NP-completeness. Consequently, would-be copycats must rely on searches heuristics or on learning, not on algorithmic "solutions," to match the performance of superior firms. However, complexity also undermines heuristics and learning. Firms that attempt to improve incrementally are quickly snared on low "local peaks," and firms that mimic a high performer's entire strategy suffer large penalties from small errors.Hence complexity deters imitation. This helps to explain why some winning strategies remain unmatched even though they are open to public scrutiny and why those strategies yield superior returns even after many of their critical ingredients are adopted by competitors.".
- catalog description "Includes bibliographical references (p. 34-36).".
- catalog extent "36 p. :".
- catalog isPartOf "Working paper (Harvard University. Graduate School of Business Administration. Division of Research) ; 98-068.".
- catalog isPartOf "Working paper / Division of Research, Harvard Business School ; 98-068".
- catalog issued "1997".
- catalog issued "c1997.".
- catalog language "eng".
- catalog publisher "[Boston] : Division of Research, Harvard Business School,".
- catalog title "Imitation of complex strategies / Jan W. Rivkin.".
- catalog type "text".