The paper introduces the Aristotelian concept of endoxa into organizational studies, which describes, on the one hand, a set of beliefs, logics, actions and, on the other hand, the people holding and applying it. Whereas doxa is held by the majority, endoxa is thought of limited to an exclusive group. A description of the emergence of Credit Default Swaps (CDS) within the financial industry is used as a case for showing how endoxa may function as a basis for the generation of economic rents. Based on sensemaking theory, equivocality is identified as the main condition of endoxa rents. To establish it as an organizational concept, as a potential membership mechanism especially signaling is described. Relationships and disctinctions to other conceptualizations of interorganizational relations and of rents, such as "first-mover" advantages or relational rents, are discussed.
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