What protects a great business?

Follow the advantage from its source to its breaking point. Research into market power, competition, and the price investors pay.

Follow the source of the advantage

Look at what customers would have to give up to leave—and whether they are choosing to stay.

Examine who benefits as a network grows, who controls access, and where a competitor could enter.

Separate a large business from one whose size creates a lasting cost advantage.

Test the durability of the advantage against new rules, new technology, and changing customer needs.

No research articles have been published here yet. In the meantime, explore the questions we ask and the standards we use to evaluate evidence.