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Hart E Posen

Hart Posen
Professor | Management and Human Resources
608-262-9449
4263 Grainger Hall

Biography

Dr. Posen is an expert on business strategy. He received his Ph.D. at The Wharton School, University of Pennsylvania, was previously on faculty at the University of Michigan and has held affiliate appointments at Seoul National University (S. Korea), the Technion (Israel), and the University of Zurich (Switzerland). Before his Ph.D., he spent over a decade as an entrepreneur in the technology and retail sectors.

Dr. Posen studies strategy, innovation, and entrepreneurship from a behavioral perspective. He examines how firms use knowledge, capabilities, and innovation to gain a competitive advantage over rivals and why some firms fail to do so. He is particularly interested in industries that are subject to substantial uncertainty and technological change. To address these topics, Dr. Posen uses computational social science methods to develop models of how collective intelligence emerges and evolves in organizations via learning processes. He is currently applying artificial intelligence (deep learning in neural networks) to model how competition impacts firms’ decision-making, organizational structures, and collective intelligence.

Currently an Associate Editor at the Strategic Management Journal (2021-), Dr. Posen is on the editorial boards of Administrative Science Quarterly, Organization Science and Strategy Science, and was previously an Associate Editor at Management Science (2014-18). His research is regularly published in leading strategy journals (Academy of Management Review, Administrative Science Quarterly, Organization Science, and the Strategic Management Journal), and he is ranked among the “Top 10% of Authors” by the Social Science Research Network (SSRN).

Dr. Posen is frequently invited to lecture to audiences in North America, Europe, and Asia. His commentary on economic issues has appeared in various media outlets, including The Wall Street Journal, USA Today, New York Times, NPR National News, Marketplace, CNBC, and the BBC.

Research

Selected Accepted Journal Articles

Chen, J. & Elfenbein, D. & Posen, H. & Wang, M. (2022). Programs of Experimentation and Pivoting for (Overconfident) Entrepreneurs Academy of Management Review

Keil, T. & Posen, H. & Workiewicz, M. (2022). Aspirations, Beliefs and a New Idea: Building on March’s Other Model of Performance Feedback Academy of Management Review

Posen, H. & Ross, J. & Wu, B. & Benigni, S. & Cao, Z. (2022). Reconceptualizing Imitation: Implications for Dynamic Capabilities, Innovation, and Competitive Advantage Academy of Management Annals

Cao, Z. & Posen, H. (2022). When Does the Pre-Entry Experience of New Entrants Improve Their Performance? A Meta-Analytical Investigation of Critical Moderators Organization Science

Cao, Z. & Posen, H. (2022). When Does the Pre-Entry Experience of New Entrants Improve Their Performance? A Meta-Analytical Investigation of Critical Moderators Organization Science

Selected Published Journal Articles

Leiblein, M. & Chen, J. & Posen, H. (2023). Uncertain Learning Curves: Implications for First Mover Advantage and Knowledge Spillovers Academy of Management Review

Chen, J. & Elfenbein, D. & Posen, H. & Wang, M. (2022). The Problems and Promise of Entrepreneurial Partnerships: Decision Making, Overconfidence, and Learning in Founding Teams Academy of Management Review

Piezunka, H. & Aggarwal, V. & Posen, H. (2022). The Aggregation-Learning Tradeoff Organization Science

Posen, H. & Yi, S. & Lee, J. (2020). A Contingency Perspective on Imitation Strategies: When Is “Benchmarking” Ineffective? Strategic Management Journal

Chen, J. & Croson, D. & Elfenbein, D. & Posen, H. (2018). The impact of learning and overconfidence on entrepreneurial entry and exit Organization Science

Posen, H. & Martignoni, D. (2018). Revisiting the Imitation Assumption: Why Imitation May Increase, Rather Than Decrease, Performance Heterogeneity Strategic Management Journal

Posen, H. & Leiblein, M. & Chen, J. (2018). Towards a behavioral theory of real options: Noisy signals, bias, and learning Strategic Management Journal

Posen, H. & Keil, T. & Kim, S. & Meissner, F. (2018). Renewing Research on Problemistic Search: A Review and Research Agenda Academy of Management Annals

Leiblein, M. & Chen, J. & Posen, H. (2017). Resource allocation in strategic factor markets: A realistic real options approach to generating competitive advantage Journal of Management

Aggarwal, V. & Posen, H. & Workiewicz, M. (2017). Adaptive Capacity to Technological Change: A Microfoundational Approach Strategic Management Journal

Cao, Z. & Posen, H. (2015). Pre-Entry Experience, Post-Entry Organizational Learning, and New Entrants’ Performance Academy of Management Proceedings

Aggarwal, V. & Posen, H. & Workiewicz, M. (2015). The origin of capabilities? A microfoundational theory of firm heterogeneity Academy of Management Proceedings

Posen, H. & Chen, J. (2013). An Advantage of Newness: Vicarious Learning Despite Limited Absorptive Capacity Organization Science

Ethiraj, S. & Posen, H. (2013). Do Product Architectures Affect Innovation Productivity in Complex Product Ecosystems? Advances in Strategic Management

Posen, H. & Martignoni, D. & Lang, M. (2013). Rubik’s dilemma: Partial knowledge and the efficacy of learning Academy of Management Proceedings

Posen, H. & Lee, J. & Yi, S. (2013). The Power of Imperfect Imitation Strategic Management Journal

Posen, H. & Levinthal, D. (2012). Chasing a Moving Target: Exploitation and Exploration in Dynamic Environments Management Science

Knott, A. & Posen, H. & Wu, B. (2009). Spillover Asymmetry and Why It Matters Management Science

Knott, A. & Posen, H. (2009). Firm R&D Behavior and Evolving Technology in Established Industries Organization Science

Levinthal, D. & Posen, H. (2007). Myopia of Selection: Does Organizational Adaptation Limit the Efficacy of Population Selection? Administrative Science Quarterly

Knott, A. & Posen, H. (2005). Is Failure Good? Strategic Management Journal

Knott, A. & Bryce, D. & Posen, H. (2003). On the Strategic Accumulation of Intangible Assets Organization Science

Knott, A. & Bryce , D. & Posen, H. On the strategic accumulation of intangible assets (Reprint of 2003 paper) Competitive Strategy

Selected Submitted Journal Articles

Ganco, M. & Posen, H. & Kim, S. (2022). Vicarious Experimentation Through Imitation: Evidence From Video Game Sequel Releases Academy of Management Journal

Working Papers

Cao, Z. & Posen, H. (2019). How Does Pre-Entry Experience Enhance Entrant Performance? Evidence From Learning Curves of New Banks?

Martignoni, D. & Posen, H. (2018). Fortune favors fools: How confidence can compensate for competence in learning.

Posen, H. & Martignoni, D. & Levinthal, D. (2014). E Pluribus Unum: Organizational Size and the Efficacy of Learning

Posen, H. & Lang, M. & Martignoni, D. (2014). Rubik’s Dilemma: Partial Knowledge and the Efficacy of Learning

Posen, H. & Chen, J. (2014). The Peril of Plan B: Why Preparing for Change can be Risky

Presentations

Dartmouth – Tuck School of Business (2022) Pivot Rules for (Overconfident) Entrepreneurs

Boconni University (2021) Pivot Rules for (Overconfident) Entrepreneurs

81st Annual Meeting of the Academy of Management (2021) On Learning Benefits of Homophily in Firms

TEDx UW-Madison 2021 (2021) What is Strategy?

University of Pennsylvania, Wharton School. (2021) Uncertainty in Learning Curves: Implications for Early Mover Advantage.

ESSEC Business School, France (2019) Uncertainty in Learning Curves: Implications for Early Mover Advantage.

Carnegie Mellon University — Conference in honor of James G. March (2019) Leveraging Machine Learning to Model Firm Behavior

Erasmus University, Netherlands (2019) Uncertainty in Learning Curves: Implications for Early Mover Advantage.

Strategic Management Society Conference – Minniapolis 2019 (2019) Impact of Learning and Overconfidence on Entrepreneurial Entry and Exit

Strategic Management Society Conference – Minniapolis 2019 (2019) Simple Behavioral Models of a Complex World

Tilburg University, Netherlands (2019) Uncertainty in Learning Curves: Implications for Early Mover Advantage.

Yonsei University (2019) Learning-by-Participating: The Dynamics of Information Aggregation in Organizations

Seoul National University (2019) Learning-by-Participating: The Dynamics of Information Aggregation in Organizations

Washington University (2019) Winner-Take-All Dynamics Revisited: Positive Feedback When Earlier Adopters’ Influence Decays

Purdue University (2019) Winner-Take-All Dynamics Revisited: Positive Feedback When Earlier Adopters’ Influence Decays

LMU Munich (2018) Winner-Take-All Dynamics Revisited: Positive Feedback When Earlier Adopters’ Influence Decays

University of Vienna (2018) Winner-Take-All Dynamics Revisited: Positive Feedback When Earlier Adopters’ Influence Decays

Dartmouth University, Tuck School of Business (2018) Winner-Take-All Dynamics Revisited: Positive Feedback When Earlier Adopters’ Influence Decays

Strategic Management Society Conference – Paris 2018 (2018) Winner-Take-All Dynamics Revisited: Positive Feedback When Earlier Adopters’ Influence Decays

University of Southern Denmark (2018) Winner-Take-All Dynamics Revisited: Positive Feedback When Earlier Adopters’ Influence Decays

DRUID Conference (2018) Winner-Take-All Dynamics Revisited: Positive Feedback When Earlier Adopters’ Influence Decays

Strategic Management Society Conference – Oslo 2018 (2018) Winner-Take-All Dynamics Revisited: Positive Feedback When Earlier Adopters’ Influence Decays

Asia Management Research Conference (2018) Winner-Take-All Dynamics Revisited: Positive Feedback When Earlier Adopters’ Influence Decays

Drexel University (2017) Towards a behavioral theory of real options.

Organization Science Winter Conference (2017) How aspirations shape cognition

Vienna Conference on Strategy, Organizational Design, and Innovation, (2017) The efficacy of imitation from a topological perspective.

INFORMS Annual Meeting (2016) The impact of learning and overconfidence on entrepreneurial entry and exit.

Seoul National University (2016) A behavioral theory of real options

Strategic Management Society (2016) How aspirations shape cognition

Yonsei University (2016) A behavioral theory of real options

Carnegie School of Organizational Learning – Asilomar Conference (2016) How aspirations shape cognition

DRUID, Copenhagen (2016) The impact of learning and overconfidence on entrepreneurial entry and exit.

University of Southern Denmark (2016) A behavioral theory of real options

Ohio State University (2016) Adaptive capacity to technological change: A microfoundational approach.

University of Texas-Dallas (2016) Adaptive capacity to technological change: A microfoundational approach.

Strategic Management Society, Denver (2015) Models and Evidence in Behavioral Strategy — Behavioral Real Options

Strategic Management Society, Denver (2015) The origin of capabilities? Performance and adaptability in the context of environmental change.

Academy of Management Conference, Vancouver (2015) New Directions of Behavioral Theory of the Firm Research — Problemistic Search

Academy of Management (AOM) Annual Meeting (2015) Pre-entry experience, post-entry organizational learning, and new entrants’ performance

Vienna Conference on Strategy, Organizational Design, and Innovation (2015) Adaptive Capacity and the Dynamics of Operational Capabilities

Hebrew University (2015) A behavioral theory of real options

Tel Aviv University (2015) A behavioral theory of real options

LMU Munich, Germany (2014) The origin of capabilities? Performance and adaptability in the context of environmental change

Temple University (2014) A behavioral theory of real options

University of Pennsylvania, Wharton School (2014) A behavioral theory of real options

University of Lugano (USI), Switzerland (2014) A behavioral theory of real options

University of Wisconsin-Madison, MHR Brown Bag Seminar (2014) A behavioral theory of real options

Strategic Management Society, Madrid (2014) Two Faces of Experience in Organizational Learning: Aspiration Adaptation and Belief Adaptation

Academy of Management Conference, Philadelphia (2014) A behavioral theory of real options

Academy of Management Conference, Philadelphia (2014) Fortune favors fools: How confidence can compensate for competence in learning.

Academy of Management Conference, Philadelphia (2014) Fortune favors fools: How confidence can compensate for competence in learning.

Darden-Cambridge Judge Entrepreneurship and Innovation Conference (2014) Fortune favors fools: How confidence can compensate for competence in learning.

DRUID, Copenhagen (2014) Fortune favors fools: How confidence can compensate for competence in learning.

DRUID, Copenhagen (2014) How can imitation increase inter-firm heterogeneity?

Strategic Management Society, Copenhagen (2014) How can imitation increase inter-firm heterogeneity?

Ohio State University (2014) Fortune Favors Fools: How Confidence Can Compensate for Competence in Learning

University of Florida (2014) Fortune Favors Fools: How Confidence Can Compensate for Competence in Learning

National University of Singapore (2013) Fortune Favors Fools: How Confidence Can Compensate for Competence in Learning

Seoul National University (2013) Fortune Favors Fools: How Confidence Can Compensate for Competence in Learning

Singapore Management University (2013) Fortune Favors Fools: How Confidence Can Compensate for Competence in Learning

Yonsei University (2013) Fortune Favors Fools: How Confidence Can Compensate for Competence in Learning

Frankfurt School of Finance and Management (2013) Fortune Favors Fools: How Confidence Can Compensate for Competence in Learning

University of Lugano (USI) (2013) Fortune Favors Fools: How Confidence Can Compensate for Competence in Learning

Academy of Management (2013) Fortune Favors Fools: How Confidence Can Compensate for Competence in Learning

Academy of Management (2013) Rubik’s Dilemma: Partial Knowledge and the Efficacy of Learning

Atlanta Competitive Advantage Conference (2013) Rubik’s dilemma: Partial knowledge and the efficacy of learning

TOM Symposium – New York University (2013) Second Order Knowledge and the Efficacy of Learing

University of Minnesota (2013) Rubik’s Dilemma: Partial Knowledge and the Efficacy of Learning

George Mason University (2013) Rubik’s Dilemma: Partial Knowledge and the Efficacy of Learning.

Organization Science Winter Conference (Plenary Speaker) (2013) E Pluribus Unum: Organizational Size and the Efficacy of Learning

Bacconi University (2012) Rubik’s Dilemma: Partial Knowledge and the Efficacy of Learning

INSEAD (2012) Rubik’s Dilemma: Partial Knowledge and the Efficacy of Learning

University of Arizona — Eller College of Management (2012) Rubik’s Dilemma: Partial Knowledge and the Efficacy of Learning

Ecole Polytechnique Fédérale De Lausanne (EPFL) (2012) Rubik’s Dilemma: Partial Knowledge and the Efficacy of Learning

Strategic Management Society (2012) Does size matter? Organizational size and the efficacy of experimental learning.

Strategic Management Society (2012) Rubik’s Dilemma: Partial Knowledge and the Efficacy of Learning

Swiss Federal Institute of Technology (ETH) (2012) Rubik’s Dilemma: Partial Knowledge and the Efficacy of Learning

Freie Universität Berlin (2012) Rubik’s Dilemma: Partial Knowledge and the Efficacy of Learning

Universitat Pompeu Fabra — TOM Symposium (2012) Rubik’s Dilemma: Partial Knowledge and the Efficacy of Learning

Atlanta Competitive Advantage Conference (2012) Does size matter? Organizational size and the efficacy of experimental learning.

University of Wisconsin School of Business (2012) An advantage of newness: Vicarious learning with limited absoptive capacity.

Georgetown University — McDonough School of Business (2012) An advantage of newness: Vicarious learning with limited absoptive capacity.

Seoul National University (2012) An advantage of newness: Vicarious learning with limited absoptive capacity.

Univerisity of Michigan — Psychology Dept. Decision Sciences Seminar (2012) Does size matter? Organizational size and the efficacy of experimental learning.

DRUID (2011) The power of imperfect imitation.

LMU — Ludwig Maximilian University of Munich (2011) Does size matter? Organizational size and the efficacy of experimental learning.

New York University, Stern School of Business (2011) The power of imperfect imitation.

Seoul National University (2011) The power of imperfect imitation.

University of Michigan — Strategy Brown Bag Seminar (2011) Does size matter? Organizational size and the efficacy of experimental learning.

University of Southern Denmark (2011) The power of imperfect imitation.

Academy of Management (2010) The power of imperfect imitation.

Atlanta Competitive Advantage Conference (2010) The power of imperfect imitation.

Midwest Strategy Meeting (2010) The power of imperfect imitation.

Organization Science Winter Conference (2010) The power of imperfect imitation.

Strategic Research Forum (2010) The power of imperfect imitation.

Academy of Management (2009) Is competition good? Competition, learning, and the performance of new entrants.

Duke University, Fuqua School of Business (2009) Chasing a moving target: Learning in dynamic environments.

Organization Science Winter Conference (2009) Bringing context to the exploration-exploitation trade-off: Considering the impact of selection and turbulent environments.

University of Minnesota, Carlson School of Business (2009) Chasing a moving target: Learning in dynamic environments.

Academy of Management (2008) Bringing context to the exploration-exploitation trade-off: Considering the impact of selection and turbulent environments.

University of Michigan — Hosmer Seminar Series (2008) Firm R&D behavior and evolving technology in established industries.

University of Western Ohio, Ivey School of Business (2008) Bringing context to the exploration-exploitation trade-off: Considering the impact of selection and turbulent environments.

Academy of Management (2007) Decomposing firm heterogeneity.

First Annual Internal Workshop on Entrepreneurship Research (2007) Is failure good?

INFORMS (2007) Dark side of balancing exploration and exploitation.

Organization Science Conference on Strategic Renewal (2007) Firm R&D behavior and evolving technology in established industries.

Strategic Management Society (2007) Decomposing firm heterogeneity.

Academy of Management (2006) Three essays on innovation and impact of capital.

INFORMS Annual Meeting (2006) Myopia of selection: Does organizational adaptation limit the efficacy of population selection?

Strategy Brown Bag Seminar (2006) Intermediate selection on a developmental journey.

Utah Winter Strategy Conference (2006) Intermediate selection on a developmental journey.

Dartmouth University, Tuck School of Business (2005) Do capital markets value firm capabilities?

Emory University, Goizueta Business School (2005) Do capital markets value firm capabilities?

Harvard Business School (2005) Do capital markets value firm capabilities?

INSEAD (2005) Do capital markets value firm capabilities?

London Business School (2005) Do capital markets value firm capabilities?

Rice University (2005) Do capital markets value firm capabilities?

Southern Methodist University (2005) Do capital markets value firm capabilities?

University of Michigan, Ross School of Business (2005) Do capital markets value firm capabilities?

University of North Carolina, Kenan-Flagler Business School (2005) Do capital markets value firm capabilities?

University of Washington (2005) Do capital markets value firm capabilities?

Washington University, Olin Business School (2005) Do capital markets value firm capabilities?

Academy of Management (2004) Do financial markets price firm strategies?

Academy of Management (2004) Intermediate selection on a developmental journey.

Strategic Management Society (2004) Do financial markets price firm strategies?

Strategic Management Society (2004) Spillover symmetry and why it matters.

University of California, Anderson School of Management (2004) Do capital markets value firm capabilities?

University of Ottawa (2004) Do capital markets value firm capabilities?

University of Western Ontario, Ivey School of Business (2004) Do capital markets value firm capabilities?

Academy of Management (2003) From riches to rags: Munificence and new venture performance.

Academy of Management (2003) Is architectural change always disruptive to incumbent firms? Some counterfactual evidence.

Harvard Strategy Conference (2003) Is failure good?

Strategic Management Society (2003) From riches to rags: Munificence and new venture performance.

Strategic Management Society (2003) Is architectural change always disruptive to incumbent firms? Some counterfactual evidence.

Academy of Management (2002) The munificence penalty: How excess resources impact new venture performance.

Teaching

Graduate Courses

Contributions to Strategy Research, PhD Seminar (University of Zurich, Switzerland) (BUS 900), Fall 2013. Download Syllabus
What constitutes a “contribution” to the research literature in Management? How do you know when your paper is making a contribution? More importantly, how do you write your paper to highlight its contribution? Over the course of a three day workshop, we will focus on identifying and framing contributions to the literatures in strategy and organization theory.

Each of the days will be divided into two parts. In the morning sessions, we will read and discuss published papers that highlight ways of contributing to the literature. While some of these papers are big blockbusters, others are less well-known. Nonetheless, each paper finds some way to make a clear and important contribution to the research literature. In reading these papers, focus on answering the question: What was the contribution that got this paper published in a leading journal?

In the afternoon sessions, we will focus on your own working papers. Each student is required to submit a working paper that will be the focus of his/her attention during the workshop. The objective in this part of the workshop is twofold. First, I hope that a discussion focusing on the contribution of your paper will enable you to improve the paper and the likelihood of publication in a top journal. Second, in my experience, one of the best ways in which to come to understand how to craft a paper that makes a contribution is to help others do so.

Strategy PhD Seminar (MHR 870), Fall 2014. Download Syllabus
Strategy PhD Seminar

Contemporary Topics (MHR 765), Spring 2018.

Contemporary Topics (MHR 765), Spring 2018.

Business Strategy (ExecMBA for Kohl’s Corp) (MHR 765), Fall 2013. Download Syllabus
This course develops concepts and analytical frameworks for creating sustainable competitive advantage. The perspective adopted is that of a general manager with overall responsibility for the performance of the firm (or of a business unit within the firm). Such a manager needs to understand the basis for the current performance of the firm and to identify those changes (inside or outside the firm) that are most likely to affect future performance adversely or that provide opportunities for the firm to improve its performance. The manager must then use the firm’s resources to formulate and implement strategies to compete successfully in its competitive environment.

My aim is to enhance your ability to assume a leadership role by cultivating the ability to make well- grounded and uncommonly insightful recommendations as to how the business actually is or should be competing. A strategy must define a specific problem or opportunity, the scope of the firm’s activities, the logic through which the activities result in better performance, and what it is about the firm that allows it to better carry out those activities than its competitors.

Business Strategy (MHR 723), Spring 2014. Download Syllabus
Integrative approach to strategic management, including strategy formulation/implementation at business unit, corporate levels. Cases, discussion, lecture, simulation are used to communicate concepts. Emphasizes development of unique tools for analysis of

Business Strategy (MHR 723), Spring 2015. Download Syllabus
Integrative approach to strategic management, including strategy formulation/implementation at business unit, corporate levels. Cases, discussion, lecture, simulation are used to communicate concepts. Emphasizes development of unique tools for analysis of

Business Strategy (MHR 723), Spring 2016.
Integrative approach to strategic management,including strategy formulation/implementation at business unit,corporate levels. Cases,discussion,lecture,simulation are used to communicate concepts. Emphasizes development of unique tools for analysis of

Global Strategy (Technion, Israel Institute of Technology) (BUS 700), Spring 2014. Download Syllabus
The Global Strategy course is an advanced strategy course that will enhance your abilities to develop strategies for competing in the fast-changing global business environment. My aim is to help you develop the analytical skills necessary assume a leadership role by cultivating the ability to make well- grounded and uncommonly insightful recommendations as to how the business actually is or should be competing globally. A (global) strategy must define a specific problem or opportunity, the scope of the firm’s activities, the logic through which the activities result in better performance, and what it is about the firm that allows it to better carry out those activities than its competitors.

The course is organized around two central ideas. First, we challenge the naive logic that “going global” is a strategic imperative, and instead, treat it as a choice that must be weighed on its own merits. Second, we challenge the popular rhetoric of a “flat world,” and instead, recognize the enduring role of economic and institutional differences across countries. While these differences create challenges in tapping foreign markets, differences are the source of opportunity on the supply side. As a consequence, the key take-away from the course is a framework and set of analytical tools for developing global strategic initiatives that create value by bridging country differences or leveraging similarities.

Service

Editorial and Reviewing Activities

Strategic Management Journal – Since March 2021
Associate Editor

Management Science (Associate Editor) – June 2014 – January 2018
Associate Editor

Strategic Management Journal – Since September 2013
Editorial Board Member

Strategy Science – Since September 2013
Editorial Board Member

Administrative Science Quarterly – Since January 2013
Editorial Board Member

Strategic Organization – January 2012 – December 2015
Editorial Board Member

Organization Science – Since September 2011
Editorial Board Member