Using Regulation to Change the Market for Innovation
Year: 1985
Type: article
Abstract: Technological innovation is the first commercially successful application of a new technical idea.By definition, it occurs in those institutions, primarily private profit-seeking firms, that compete in the marketplace.Innovation should be distinguished from invention, which is the development of a new technical idea, and from diffusion, which is the subsequent widespread adoption of an innovation by those who did not develop it.The distinction between innovation and diffusion is complicated by the fact that innovations can rarely be adopted by new users without modification.When modifications are extensive, the result may be a new innovation.Definitions used in this article draw on a history of several years' work at the Center for Policy Alternatives at the Massachusetts Institute of Technology, beginning with a five-country study: National Support for Science & Technology: An Explanation of the Foreign Experience (Aug.18. 1975) (CPA No. 75-12).Some definitions appear in that study at pages 1-12. * Pollution Control Devices
Language: English
Topic: Innovation Policy and R&D
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2222705885