Welfare implications of user innovation

Joachim Henkel; Eric Von Hippel

doi:10.1007/0-387-25022-0_5

Welfare implications of user innovation

Joachim Henkel, Eric Von Hippel

Chair of Technology and Innovation Management

MIT Sloan School of Management

Research output: Chapter in Book/Report/Conference proceeding › Chapter › peer-review

9 Scopus citations

Abstract

Innovation by users is now understood to be an important part of innovative activity in the economy. In this paper we explore the implications of adding innovation by users to existing models of social welfare that currently assume innovation by manufacturers only. We find this addition removes several inefficiencies, and that social welfare is likely to be increased by the presence of user innovation. Implications for policies that can impact users' freedom to innovate are discussed.

Original language	English
Title of host publication	Essays in Honor of Edwin Mansfield: The Economics of R&D, Innovation, and Technological Change
Publisher	Springer US
Pages	45-59
Number of pages	15
ISBN (Print)	0387250107, 9780387250106
DOIs	https://doi.org/10.1007/0-387-25022-0_5
State	Published - 2005

Keywords

inefficiencies
product diversity
social welfare
user innovation

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10.1007/0-387-25022-0_5

Cite this

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Welfare implications of user innovation

Abstract

Keywords

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