In markets where quality is hard to observe, reputations last a long time If quality is important, competitive advantages tend to be long-lived
In markets where quality is hard to observe, reputations last a long time. If quality is important, competitive advantages tend to be long-lived
In markets with long-lived competitive advantages. first mover advantages and plain luck often explain a lot
In markets with long-lived competitive advantages, first mover advantages and plain luck often explain a lot
