# Nobel Laureate Prof. Michael Spence on Groupon's first-mover advantage

1 Faculty News June 11, 2012 ![Newsweek Logo](/sites/default/files/styles/246w/public/assets/images/con_036515.gif?itok=5lGUsWxV)>

Excerpt from [Newsweek](http://www.thedailybeast.com/newsweek/2012/06/10/groupon-s-next-move.html) -- " ... Groupon represents a textbook case of the business principle known as first-mover advantage. ... As Nobel Prize–winning economist [Michael Spence](http://www.stern.nyu.edu/faculty/bio/a-michael-spence) observed, a business that swiftly achieves and maintains dominance can reap superior profits and enjoy unrivaled customer loyalty."

[Read more](http://www.thedailybeast.com/newsweek/2012/06/10/groupon-s-next-move.html)